Opsens receives largest-ever order for its OPP-W fiber optic pressure and temperature sensors
QUEBEC CITY, March 12, 2013 /CNW Telbec/ - Opsens Inc. ("Opsens") (TSXV:
OPS) is pleased to announce that it has been awarded its most single
significant contract to-date, to supply and install 48 OPP-W sensor
systems in an Alberta SAGD oil sands project.
The contract has been placed by an oil and gas producer with a
multibillion dollar market capitalization. Opsens Solutions Inc.
("Opsens Solutions"), wholly owned subsidiary of Opsens, will supply,
install and service its proprietary OPP-W Pressure and Temperature
optical technology and surface data systems. The systems will monitor
pressure and temperature during the working life of the wells.
Opsens Solutions' experienced engineering and field service teams will
manage the installations related to this contract. The programme is
sequenced to start in the summer 2013 and is scheduled to be completed
in early 2015.
During the last year, Opsens Solutions has positioned itself with
capital investment and organizational changes, including moving to a
new head office. These business initiatives will support contracts of
this type by increasing Opsens Solutions' ability and capabilities to
handle the associated increase in production and installation
activities.
Opsens Solutions' President Tom Keegan said; "We welcome this
prestigious contract. It is a continual testament to Opsens Solutions'
accomplishments over the past years to build on its customer
relationships in the oil and gas markets. This is combined with our
goal of delivering superior value to our customers with downhole
monitoring by optimizing production and reduce related operational
costs".
In thermal recovery processes, Opsens' fiber optic technologies provide
oil sands producers with real-time downhole pressure and temperature
information about their SAGD wells during operation. The ability to
accurately control bottomhole pressure at high temperatures for
artificial lift systems such as electrical submersible pumps allows
SAGD operators to improve steam/oil ratios and to reduce operating and
lifting costs.
About Opsens Inc. (www.opsens.com)
Opsens is a leading developer, manufacturer, supplier and installer of a
wide range of fiber optic solutions based on proprietary patented
technologies for the measurement of pressure, temperature and other
parameters. The qualities of our sensors allow us to offer measuring
instruments that are effective and durable in extreme conditions.
Opsens is using its competitive advantages to focus primarily on two
strong growth markets: oil and gas and FFR medical instrumentation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties and other factors that may cause
actual results, performance and achievements of Opsens to be materially
different from any future results, performance or achievements
expressed or implied by the said forward-looking statements.
SOURCE: OPSENS INC.
Marie-Claude Poitras, communications, 418.682.9996
Louis Laflamme, CPA, CA, President and Chief Executive Officer, 418.682.9996