It was announced late last week that Caribbean Villa Catering Corp./ JSC Globotek has received the endorsements by members of parliament, the Ministry of Energy as well as several oil producers present at the conference which was hosted by the Ministry of Energy in Moscow.
"We are very satisfied with the endorsement by the Ministry of Energy and due to the fact that our technology is both efficient and economical we expect a large portion of the APG processing market," said Mr. Dmitry Lukin, CEO of JSC Globotek. "Our technology is now considered the leading solution, which will enable us to build strong sustainable shareholder value," further added Mr. Lukin.
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About JSC Globotek
Globotek is the developer and owner of a unique technology for the processing of Associated Petroleum Gas (APG) that is carried out at the drilling field by a Modular Mobile Structure. Globotek's process involves the use of block-modular mobile complexes that each contains mini gas processing units. Globotek presently supplies only the Russian market but its product can be utilized wherever APG is flared. The advantages of the Globotek product are many, but can be summarized as speed of construction and installation, small cost and a worldwide market. Russian legislation mandates that all oil fields in Russia must process APG to the international 95% standard by January 2012.
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