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name: sunny
2006/10/19(¸ñ)
SulphCo(R) and OMV Sign a Cooperation Agreement  

SPARKS, Nev., Oct. 18 /PRNewswire-FirstCall/ -- SulphCo(R), Inc. SUF today announced that it has entered into a Cooperation Agreement with OMV Refining and Marketing GmbH located in Vienna, Austria.

The Cooperation Agreement calls for the installation and operation of one of SulphCo's(R) 15,000 barrel per day commercial Sonocracking units at OMV's principal refinery in Schwechat, Austria near Vienna. The cooperation agreement outlines the basic responsibilities of both parties to permit, install and operate the unit. The agreement further outlines the responsibilities of the parties regarding commercial considerations once the unit is operational.

The 15,000 barrel per day Sonocracking unit to be installed at OMV is already built and currently housed at SulphCo's(R) primary equipment supplier, NTG, located in Gelnhausen, Germany. SulphCo(R) will continue to rely on NTG to assist with engineering and installation interface between OMV and SulphCo(R).

"The Cooperation Agreement with OMV is a positive step for SulphCo(R) in its continued and expanding European marketing efforts and is in line with our stated goal of showcasing the commercial capabilities of our Sonocracking technology during 2006. The work experience at OMV will also prove beneficial for future refinery installations," said Dr. Rudolf Gunnerman, SulphCo's(R) Chairman and CEO.

The installation of this 15,000 barrel per day commercial Sonocracking unit for OMV follows a number of previously announced company initiatives involving Brazil-based Petroleo Brasileiro S. A. ("Petrobras"), Korea-based Hyundai Oilbank Co., Ltd. ("HDO"), and SK Corporation, and Nippon Oil Corporation based in Tokyo, Japan. The company continues to respond to industry inquiries as well as actively market its technology internationally.

About OMV

With Group sales of EUR 15.6 billion and a workforce of 5,226 employees in 2005, as well as market capitalization of approx. EUR 12 billion, OMV Aktiengesellschaft is Austria's largest listed industrial company. As the leading oil and gas group in Central Europe, OMV is active in Refining and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 18 countries on five continents. In the Gas business segment OMV has storage facilities and a 2,000 km long pipeline system, transporting 25 bcm of natural gas annually to countries such as Germany and Italy.

 


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