Soiltech has signed a contract with Petrogas E&P Netherlands for treating contaminated water on the jackup rig Noble Resolute. This is a sizable¹ contract for Soiltech.
We will be using our own market leading slop treatment technology (STT) to reduce the fluid waste generated during operations with up to 95%. This in turn reduces the amount of waste sent to shore for onshore treatment and disposal. The technology therefore contributes to reduced carbon emissions and lower cost for the client. No chemicals will be used in the treatment process, thereby avoiding the discharge of chemicals to sea.
“For Soiltech this is an important contract as we continue to develop sustainable waste management solutions supporting the ongoing decarbonization of the energy sector. As environmental regulations continue to tighten world-wide, we see an increase in the demand for our technologies”, says Jan Erik Tveteraas, Soiltech’s CEO.
About Soiltech
Soiltech is an innovative technology company specializing in the treatment, recycling and sustainable handling of contaminated water and solid waste at site. Our technologies enable cost savings and lower CO2 emissions through waste reduction, waste recovery and reuse.
Soiltech AS has signed a merger plan with Oceanteam ASA. The combined company will seek listing on Oslo Børs under the name Soiltech ASA. It is anticipated that such listing will take place around the end of Q3 2024.
Soiltech operates world-wide and is headquartered in Norway. We are listed on Euronext NOTC in Norway under the ticker SOIL.
____________
1.Contract sizes
- A sizable contract has an estimated value of NOK 3 – 10 million
- A substantial contract has an estimated of NOK 10 – 25 million
- A large contract has an estimated value above NOK 25 million
Date: 27. June 2024
Contact:
Tove Vestlie, CFO, +47 90690648
Jan Erik Tveteraas, CEO, +47 95214925
Rig Move – Noble Resolute (Foto: Christer Holte).