MAN OIL GROUP AG: Pre-commissioning work commences on innovative environmental waste management solution at TNK-BP refinery

Man Oil Group AG
Pre-commissioning work commences on innovative environmental
waste management solution at TNK-BP refinery

Zug, Switzerland, April 17, 2012 - Man Oil Group AG, the Swiss based environmentally friendly oil-sludge treatment specialist, today confirms that pre-commissioning work has commenced at LINIK, the Ukrainian refinery of TNK-BP (the joint-venture between the Russian Tumen Oil Company and British Petroleum). The STORM 15 (Sludge Treatment Oil Recovery Machine) has been developed and will be operated by MOG AG.

The award of the contract was made on July 1, 2011 following a tender process in which one of the key selection criteria was a guaranteed high capacity of environmentally friendly processing. The first stage of the project at the LINIK site provides processing of waste oil products and consists of additional cleaning of processed mixtures in order to return hydrocarbons to primary refining processes and increase environmental safety.

STORM-15 is an economical, environmentally friendly, technological solution for the upstream and downstream markets' treatment of oil waste, efficiently processing even heavy oil sludge types. Its technology has been developed following three years' research and development at the Company's scientific laboratories and engineering bureaus, working with leading international industry experts.

The Man Oil Group technology creates new standards for the oil industry and delivers the following benefits:

- environmentally friendly processing of oil sludge which does not change the chemical structure of recovered hydrocarbons to form any new toxic elements;

- recovery of up to 95% hydrocarbons from oil sludge;

- throughput capacity of 15 m³/h allows processing and cleaning of one

80,000 m³sludge pit per season;

- processing of most types of incoming sludge (oil contaminated soil, oil contaminated liquid);

- delivery of results within the current corporate HSE (Health Safety and Environment) standards, corporate environmental expertise and control procedures that are applicable to oil companies such as the strict environmental control over the activities of their contractors and sub-contractors at their sites.

Genadi Man, Man Oil Group President and CEO, said:
'Today marked an important milestone as we launched our new oil sludge treatment facility. TNK-BP is our first major multi-national client; STORM 15 was commissioned for their industrial site in Lisichansk as it delivers clear advantages in the treatment of cleaning all types of oil pollution. This high-tech project is the result of millions of dollars of investment in R&D, years of testing and we are confident that the STORM-15 solution will be a major force in the global treatment of contaminated waste.'

Evgeniy Belenko, Director of Scientific Department, Man Oil Group Russia:
'I am personally convinced this technology represents a breakthrough in the waste utilization market worldwide. Demand for waste oil processing is constantly growing due to drawbacks in oil production and refining technologies, together with anthropogenic load on soil and water eco-systems; contamination of the environment with crude oils and oil products is one of the most illustrative examples as hydrocarbons get connected tightly with solid surfaces, including soils, and remediation of such sites becomes very problematic. STORM-15 enables pollutants to be detoxified simultaneously with the recovery of hydrocarbons from a wide range of oil sludge, creating no new hazardous components. This is due to the application of Man Oil Group's patent pending special agent - NHS - a water composition which is non-toxic, safe and can be easily destroyed biologically. NHS also enables the cleaning process to be fully independent of third party producers.'

Vladimir Kirillov, Head of the Russian Environmental Control Authority (RosPrirodNadzor):
'Commissioning of STORM-15, with positive operating results, is one of the most significant events in the implementation of an environmental waste management program. The Russian government is very focused on new technologies that can treat accumulated environmental damage, and are highly supportive of those that deliver the most environmentally friendly and economically efficient solutions in this sphere. This forms a key element in the building of the Russian State Environmental Program and oil refining waste is seen as a critical environmental problem; annual oil sludge volumes have increased to critical levels despite oil refining volumes in the country not being high. Man Oil Group has created a successful solution for the global treatment of oil sludge. It is very important for us to invite such companies to the Russian market and create favorable conditions for their operations.'
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Contact:
Emma Kane/Rebecca Sanders-Hewett t: +44 20 7566 6700
Redleaf Polhill

Man Oil Group AG t.: +41 41 500 16 90
Seestrasse, 5 e: ir@manoilgroup.com
6300 Zug, Switzerland

Notes:
MOG AG:

- Man Oil Group is a Swiss company which provides complex treatment of oil sludge and oil-contaminated soils on an industrial scale with waste bioremediation thus facilitating the separation and recovery of up to 95 % of hydrocarbons. The treatment method is designed to be environmentally friendly. Man Oil Group has operations in Russia, Ukraine, Kazakhstan and Azerbaijan. Technological solutions and reagents used in the recycling have been developed by Man Oil Group with the Ukrainian Institute for Soil Science and Agrochemistry.

- STORM-15 machinery can be tailored to the individual requirements of the customers and the particular circumstances of each site. Their flexible, automated control system minimizes human intervention and delivers results in line with pre agreed and installed parameters.

- Shares in Man Oil Group AG were admitted to trading on the Frankfurt Stock Exchange on July 13, 2011.

Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Man Oil Group AG in conjunction with the existing listing of its shares in the Open Market segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within Canada, Australia or Japan.