Conoco Gas-to-Liquids Plant Taking Shape.Business/Energy Editors NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com and at www.newstream.com HOUSTON--(BUSINESS WIRE)--March 4, 2002 Conoco (NYSE NYSE See: New York Stock Exchange :COC See chip on chip. ) has taken a major step towards commercializing its proprietary technology for converting natural gas to liquids with the delivery and installation of the first production modules at the company's gas-to-liquids (GTL GTL - Gunning Transceiver Logic ) demonstration plant under construction in Ponca City Ponca City, city (1990 pop. 26,359), Kay co., N Okla., on the Arkansas River; founded 1893 with the opening of the Cherokee Strip, inc. 1899. It is a trade, processing, and shipping hub in a grain, livestock, and oil area. , Okla. The GTL technology makes it possible to economically develop "stranded" natural gas reserves -- those that have no viable market in the surrounding area. By converting the natural gas into liquid petroleum products, transportation to market becomes cost-effective. The modules, which weighed in at 27,000 pounds, stand 13-feet high and 21-feet long, are the first of 58 to be delivered and installed for the $75 million project. "We are right on schedule," said project manager Tim Martin. "The weather has been cooperative for most of the winter and we expect to have the project completed later this year." The demonstration plant will convert 4 million cubic feet per day (mmcfd) of natural gas into 400 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. (bpd) of clean burning, sulfur-free diesel, kerosene kerosene or kerosine, colorless, thin mineral oil whose density is between 0.75 and 0.85 grams per cubic centimeter. A mixture of hydrocarbons, it is commonly obtained in the fractional distillation of petroleum as the portion boiling off and other products. Conoco will use the engineering data and performance analysis to design a much larger commercial plant. "With an estimated 3,000 trillion cubic feet (tcf) of stranded natural gas worldwide, the business opportunity for a company with a viable commercial gas-to-liquids technology is tremendous," said Jim Rockwell, Conoco manager, gas-to-liquids. "The GTL demonstration plant is a big step toward positioning ourselves to capitalize on this market." In Ponca City, over 80 scientists and engineers from 18 different countries are working on Conoco's gas-to-liquids program, which has been singled out as an industry leader. A benchmarking study, published last year in Chem System's "Stranded Gas Utilization: Methane Refineries of the Future," ranked Conoco's technology the most efficient in the industry. Conoco is a major, integrated energy company active in more than 40 countries. Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.030402/bb7 |
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