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Oxford Catalysts signs demonstration and testing deal with Petrobras for gas-to-liquid plant

Last updated: 07:27 10 Feb 2010 EST, First published: 08:27 10 Feb 2010 EST

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Oxford Catalysts Group (AIM: OCG) has signed a joint demonstration and testing agreement (JDTA) with Brazilian national oil company Petrobras along with partners Toyo Engineering Corp and MODEC for the construction and operation of an integrated gas-to-liquid (GTL) demonstration plant based on Oxford’s technology.

The GTL demonstration plant, which will be located at the Petrobras facility in Fortaleza will incorporate Oxford's microchannel reactor and catalyst technologies for the key Steam Methane Reforming and Fischer-Tropsch sections of the plant. It will be operated for nine months following its construction and delivery in early 2011 and the subsequent commissioning and testing periods.

The total cost of the plant of “several tens of millions of dollars” will be covered by Toyo Engineering and MODEC, whilst Petrobras will be responsible for the installation and operating costs of the demonstration.

“This represents a crucial milestone in the development of our small scale GTL technology, and a very significant commitment by Toyo Engineering, MODEC and Petrobras to its demonstration and commercialisation.  We are delighted to be demonstrating our small scale GTL technology first with Petrobras, one of the world's single largest users of FPSOs,” said chief executive of Oxford Catalysts, Roy Lipski.

Should the demonstration be successful, the first commercial deployment of the group's small scale GTL technology will be on an FPSO (floating production storage and offloading) to mitigate flaring of associated gas resulting from the development of offshore oil fields.

Shares in the company rose 4% on the news.

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