SOILTECH AWARDED CONTRACT WITH OMV PETROM

28 Jan 2025 08:05 CET

Soiltech ASA (OSE: STECH)
Sandnes, Norway, January 28 2025


Soiltech ASA and Soiltech Romania SRL have been awarded a contract by OMV Petrom
S.A. to provide cuttings containment and transfer equipment and related services
to the Neptun Deep project. Neptun Deep is the largest natural gas project in
the Romanian Black Sea.
The services will be performed on the drilling rig Transocean Barents. The
agreement is concluded for a period of 5 years, with an initial estimated
contract value of USD 10 million for an estimated duration of 18 months.
Commencement is anticipated in 2025. Soiltech will deliver a wide range of
technologies to the Neptun Deep project for handling drill cuttings, including
equipment for storage on the rig and on the platform supply vessel’s (PSV).
Tools for cleaning the rig’s and vessel’s storage tanks forms also a part of the
scope.

“We are proud to be selected by OMV Petrom for the Neptun Deep project, which we
see as a recognition of our commitment to delivering safe, sustainable and
cost-effective solutions”, says Jan Erik Tveteraas, Soiltech’s CEO.

About OMV Petrom S.A.:
OMV Petrom is the largest integrated energy producer in Southeastern Europe,
with an annual Group hydrocarbon production of approximately 41 million boe in
2023. The Group has a refining capacity of 4.5 million tons annually and
operates an 860 MW high-efficiency gas-fired power plant. The Group is present
on the oil products retail market in Romania and neighboring countries through
approximately 780 filling stations under two brands – OMV and Petrom. OMV Petrom
acts as Operator for the Neptun Deep project, as part of a Joint Operating
Agreement.
More details about Neptun Deep project can be found here:
https://www.omvpetrom.com/en/our-business/exploration-and-production/neptun-deep
.

About Soiltech:
Soiltech is an innovative technology company specializing in the treatment,
recycling and sustainable handling of contaminated water and solid waste on
site. Our technologies enable cost savings and lower CO2 emissions through waste
reduction, waste recovery and reuse.

Soiltech operates world-wide and is headquartered in Norway.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

Contact:
Tove Vestlie, CFO Telephone: (+47) 90 69 06 48
Jan Erik Tveteraas, CEO Telephone: (+47) 95 21 49 25

More information:
Access the news on Oslo Bors NewsWeb site