Breaking News

Mastercard Second-Quarter EPS 80c Compared With 77c Estimate
Tweet TWEET

Valerus Awarded Compression Services Contract by Petrofac for Mature Field in Mexico

  Valerus Awarded Compression Services Contract by Petrofac for Mature Field
  in Mexico

  Company furthers position as a leading gas processing service provider in
                                Latin America

Business Wire

HOUSTON -- November 28, 2012

Valerus, (www.valerus-co.com), a world leader in integrated oil and gas
handling equipment and services, announced today that it has been awarded a
contract from Petrofac to provide contract compression services for two mature
onshore fields in Mexico. Petrofac was selected by PEMEX to develop the
Magallanes and Santuario blocks in Tabasco State, central Mexico, to increase
production through the reactivation and development of both blocks that have
been operated by PEMEX since the early 1960s.

Valerus will provide approximately 10,000 hp of compression as well as ongoing
maintenance and operations services for the project. Work is expected to begin
in December 2012 with all compression equipment installed by March 2013. The
contract award for ongoing maintenance and operations services is for two
years.

Valerus has worked in Mexico since 2004, installing and operating over 150,000
hp of compression facilities in addition to providing production equipment,
processing and treating, and operations and maintenance services in the
country. Valerus also has the only ISO 9001 certified facility in Mexico for
gas processing services, operations and maintenance.

“Valerus has a track record of experience in Mexico as well as superior safety
and quality capabilities for gas processing and treating,” said Patricia
Martinez, vice president of Latin America for Valerus. “We look forward to
working with Petrofac on this important project.”

About Valerus

Valerus is a worldwide leader in integrated oil and gas handling solutions.
Products and services include reciprocating compressor packages, production
equipment, gas processing solutions, liquid separation systems, turnkey
services and a variety of professional field services. Its mission is to
develop tailored solutions for its customers by combining the most experienced
people with innovation and quality equipment. Valerus is committed to
achieving the highest standards in health, safety and environmental
responsibility. More information is available at www.valerus-co.com.

Contact:

Pierpont Communications
Chris Wailes, 713-627-2223
713-585-5144 (mobile)