HMS Group to produce block modular equipment for Surgut condensate stabilization plant

Sibnefteavtomatika, a subsidiary of HMS Group, after winning a corresponding tender process, signed a contract for the production and delivery of block modular equipment for Surgut condensate stabilization plant (Western Siberia).

According to the contract the Group will deliver to the customer a stable gas condensate metering station consisting of a filtering system, meter run unit, data collection and processing unit and a processing block.

This equipment is designed for stable condensate mass and performance determination. Sibnefteavtomatika operates on the market of measuring equipment for more than 20 years and implements the leading technological solutions in the area of fiscal measurement of energy. Sibnefteavtomatika gained the most recognition for its product development in flow measurement such as its water, oil, gas, gas condensate, steam and thermal energy flow measurement units for different industries.

The HMS Group is the leading pump manufacturer and provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. The HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. The Group reported revenues of RUB 7.3 billion, adjusted EBITDA of RUB 1.4 billion and profit for the period of RUB 485 million for the 3 months ended March 31, 2012. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.

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