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Cape Town, xx February 2011 – The joint partners in the cooperative venture company, GTL.F1; PetroSA, Lurgi and Statoil, cordially announce that the latter Norway-based energy firm will, as part of long-standing agreement, withdraw from the ownership and management of the company.
The GTL.F1 joint venture company funded the development and commercialisation of technology for production of high quality synthetic liquid fuels. The technology has been demonstrated for natural gas feed in a semi-commercial plant in Mossel Bay, South Africa. Lurgi and PetroSA will continue their partnership in GTL.F1.
GTL.F1 was established in 2005, combining the three partners’ (Statoil, PetroSA and Lurgi) expertise to develop and commercialise the Fischer – Tropsch (F-T) technology as part of a Gas-To-Liquids technology offering.
GTL.F1 has progressed and developed to the point, where Statoil’s further ownership is no longer essential for continuing success. Statoil, being primarily a user of technology in its own operation, supports development – both financially and by means of internal resources - and retains ownership mainly in technologies which Statoil would otherwise not have access to or would not have been developed.
The technology development phase and its demonstration in semi-commercial operation at Mossel Bay as well as the commercialization focussed phase of GTL.F1, in which Statoil has played a crucial role, have now come to a successful conclusion. An engineering contract for an F-T plant is under execution and various commercial proposals are being negotiated.
Thus, a new phase directed at licensing, engineering and commercial operation has started in which GTL.F1 is the driving force with Lurgi as operator and engineering partner and PetroSA providing the operating experience and reference plant.
Statoil will have access to the GTL.F1 technology on a preferential commercial basis and will until the end of 2012 continue to support GTL.F1 with key resources to ensure complete know-how transfer and support the future success of GTL.F1.
For further information, kindly contact:
Thabo Mabaso
Mobile: 00-84-466-3942