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Industrial & Marine Gas Turbines
 
CAPSTONE TURBINE INCREASES PRESENCE IN AFRICAN O&G MARKET WITH 2 MW ORDER FOR OFFSHORE PLATFORM
Thursday, September 18, 2014

Source: Capstone

CHATSWORTH, Calif. - Capstone Turbine Corp received an order for two C1000 microturbines for an offshore oil and gas platform in Africa.

According to the International Energy Agency (IEA), Africa is expected to consume 4.5 million barrels of oil a day by the year 2020, up 29 percent from today. This is more than twice the IEA's projection for Asia and nearly four times the world-wide rate. Also, according to KPMG Africa, Africa's proven oil reserves accounted for 10 percent of the world in 2012, or roughly 130 billion barrels. These facts highlight the large demand for, and production of, oil and gas in Africa.

Capstone microturbines are an ideal fit for oil and gas operations around the world. Based on patented air bearing technology, the microturbines do not require coolants or lubricants. This means that the machines have higher levels of availability and operate for longer periods of time between maintenance intervals when compared to reciprocating engines.

The two C1000s will run on flare gas to power artificial lift equipment, more specifically electrical submersible pumps that are used to increase oil production. The artificial lift market was more than $9.2 billion in 2012 and is forecasted to grow to $16 billion in 2018. Africa and the Middle East are expected to represent 13 percent of this growth year over year.

Additionally, Capstone microturbines are very reliable and rugged machines, providing on-site power generation in the harshest climates ranging from the frigid tundra of Mongolia to the deserts of the Middle East. Offshore oil and gas platforms cannot have a loss of power without potentially disastrous results. Therefore, an increasing number of oil and gas operators are choosing the reliability of Capstone's microturbines to ensure their businesses stay operational in these tough conditions.

Source:  http://phx.corporate-ir.net/phoenix.zhtml?c=120708&p=irol-newsArticle&ID=1969308
Associated URL: http://www.capstoneturbine.com/
Source Date: September 18, 2014
Posted: 09/18/2014
 

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