All prices at least 15 minutes delayed
MOEX (RUB): 323.00  +1.19%
LSE (USD): 4.68  +0%



HMS Group to produce pumping equipment for Gudrun oil and gas platform

Apollo Goessnitz GmbH (Germany), recently acquired subsidiary of HMS Group, concluded a contract for production and delivery of KRPH-250, ZPRS-150/400 and TGC-50B/14 process pumps for Gudrun oil and gas field operated by Statoil. All the API-610 compliant equipment delivered under this contract will be used in the technological processes of the oil and gas offshore platform.

Gudrun oil and gas field is located in the North Sea. The field was discovered in 1974 and is estimated to contain about 150 million barrels of oil equivalent. Statoil started the field’s development in 1997.

Apollo Goessnitz GmbH manufactures high-tech API 610 pumps, standard DIN pumps and pumping systems for upstream, midstream, petrochemical processing, and thermal power generation.

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 14.9 billion, adjusted EBITDA of RUB 2.5 billion and profit for the period of RUB 1 billion for the 6 months ended March 31, 2012. The HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.

Back to the list