Colver Technologies - 2 Further Kyrgyzstan Reactors Greenlit
Colver Technologies announces that it has been given the green light to construct 2 more reactors at natural gas sites in Kyrgyzstan.
- (1888PressRelease) November 07, 2015 - Colver Technologies has announced that, 6 weeks after producing the first quantities of high-grade distillates from a pilot installation in Kyrgyzstan's Izbaskent region, Colver Technologies has been given the go-ahead to begin construction of two more of its modular reactors at gas wells operated by the country's state-owned oil & gas company, Kyrgyzneft.
The permission to proceed with wider deployment is being hailed as a major breakthrough for the Liaoning, China-based, small-scale gas-to-liquids company.
"The quality of the petroleum and diesel distillates our reactors are producing is on a par with the refined products the country currently imports at a time when their currency's exchange with the US dollar is at something of a nadir," explained Liam O'Connor, Colver Technologies' head of operations at the Izbaskent site.
The company says it hopes to begin construction in early 2016 once feasibility studies have identified the most appropriate sites. Elsewhere, the company continues to make progress with a number of Central Asian state-owned oil company partnerships with its first deployments in Turkmenistan also expected next year.
Like Kyrgyzstan, Turkmenistan has to import its refined distillate products despite being able to supply large quantities of natural gas to China. It hopes to use Colver Technologies' modular systems to help reduce its reliance upon imports.
The company continues to be dogged by speculation revolving around an impending initial public offering despite repeated denials from the company's key executives who cite inclement conditions in the IPO market as just one reason why such an event couldn't be further away.
Contact Colver Technologies:
Longzhimeng Asia-Pacific Center
22 Pangjiang Street
Dadong, Shenyang, Liaoning
China
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