CET Secure Exploration Project with Tullow Oil
Corac Group plc, a group of innovative UK based engineering companies, active in energy and environmental technologies, is pleased to report that its subsidiary Corac Energy Technologies (CET) will commence a funded feasibility study on behalf of FTSE 100 global oil and gas explorer, Tullow Oil plc.
The project with Tullow Oil will focus on wellhead compression on a gas production platform in the Southern North Sea.
Phil Cartmell, Chief Executive of Corac Group commented:
"We are delighted with this agreement with Tullow Oil. Our recent achievements in the field trial of Corac compressors downhole in Texas has given us a real boost in demonstrating to the key markets that our technologies are maturing quickly. For a major company like Tullow Oil to sign up at this stage in development further adds to our confidence in the near term prospects for Corac compression technologies."