HMS Group signs Rub 10.2 BN contract
Moscow, Russia – March 1, 2017 - HMS Group (LSE: HMSG) announces today that it has signed a 10.2 billion rubles contract for delivery and installation of oil & gas equipment for one of the largest gas fields in Russia.
In accordance with the contract, HMS Neftemash will manufacture and deliver a range of technologically integrated solutions, including helium concentrate membrane recovery units (skids 1st and 2nd stage), interstage compressor stations based on turbo-compressor units and gas booster stations, in the first quarter of 2018.
Mr. Artem Molchanov, CEO of HMS Group, commented:
“The scope of works includes development and delivery of initial data for design followed by manufacturing and procurement of sophisticated technological equipment, within an extremely short time frame.
There are very few similar projects realized in the world, and it is the first project of this kind in Russia. HMS Group will design and manufacture equipment to operate under adverse climatic conditions. The substantial range of HMS-manufactured equipment together with equipment made by other producers imposes special requirements for procurement, logistics and project management.”
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HMS Group (LSE: HMSG) is the leading pump and compressor manufacturer, as well as 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. 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, providing pumps, oil & gas equipment and compressors. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.