FLORENCE, ITALY -- (Marketwire) -- 10/31/11 --
- Technology Meets Growing Industry Demand
- GE to Provide Pumping Systems, Variable Speed Drives, Control Devices
- First Applications of Centerline SWD Slated for North Dakota's Bakken Shale Formation
GE (NYSE: GE) has been selected to build key components for ProWater's Centerline SWD? modular saltwater disposal (SWD) and deep injection well (DIW) systems, which separate oil, water and other byproducts produced in oil and gas operations. ProWater, a wholly owned subsidiary of Sustainable Environmental Technology Corp. (SET Corp) (OTCQB: SETS) (PINKSHEETS: SETS), based in Southern California, develops technology for disposing saltwater produced from oil and gas wells. Demand for removing produced water is increasing, mirroring the oil and gas production boom in North Dakota's Bakken Shale formation where the majority of the Centerline SWD? systems will be used in deep injection wells.
'GE Oil & Gas has a proven reputation for manufacturing quality oil and gas production equipment that meets the usability and durability requirements of rigorous oil field environments,' said Keith Morlock, president of ProWater. 'GE's horizontal injection surface pumping systems (SPS), variable speed drives and logic control devices are well-suited for the construction of our advanced Centerline SWD? saltwater disposal systems. We are working closely with GE to quickly ramp up production of our improved, modular SWD/DIW design, to improve efficiency and meet demands from Bakken Shale oil and gas producers.'
'Oil and gas production companies need to resolve the issues of how to dispose of the salt, oil and mineral-laden water resulting from oil and gas production,' added Morlock. 'In North Dakota and other oil and gas regions, the only government-authorized solution is injection into SWD/DIW wells with similar water that lies far below drinking water sources. With GE modular solutions and other strategic partners, we are able to maintain full manufacturing and construction capacity year round, which provides us with a competitive advantage.'
GE Oil & Gas' horizontal surface pumping systems feature directly-coupled, multistage centrifugal pumps designed for high pressure, low- to- medium-flow, environmentally sensitive applications. Used to inject produced saltwater into deep injection wells in conjunction with the Centerline SWD? system, the SPS pumps have low maintenance requirements, a long run-life and can be easily modified in the field. The addition of variable speed drives and logic control systems will lower operating costs, improve SPS and Centerline SWD? reliability, as well as provide intelligent monitoring and control capabilities.
'Our SPS systems, drives and controls are a natural fit with ProWater, and we are eager to support the growth of such an environmentally responsible, efficient, byproduct disposal system,' said Gareth Ford, president and CEO of GE Oil & Gas' Artificial Lift segment. 'ProWater is a pioneer in the field of sustainable technology, and we are looking forward to a successful partnership developing innovative solutions to solve today's environmental challenges.'
ProWater expects to deliver the first Centerline SWD? system in North Dakota by the end of January 2012, with projected completion by March 2012. The next three wells will be completed in June, September and November 2012, respectively. In 2013, three additional wells will be completed, totaling seven in the North Dakota Bakken Shale.
The proprietary Centerline SWD? system utilizes green technology to efficiently separate oil, water and other byproducts produced in oil and gas operations. This three-pronged separation approach enables ProWater to derive revenue and safely dispose of the remaining components by selling oil to refiners and providing filtered water for use in hydraulic fracturing or water injection. Applied to approved formations, this re-used injected water reaches thousands of feet below potential ground water zones.
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com.
GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy -- GE Power & Water, GE Energy Management and GE Oil & Gas -- work together with more than 100,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.
About SET Corp
Headquartered in Southern California, Sustainable Environmental Technologies Corp. (SET Corp) is acquiring, developing and marketing strategic technologies that responsibly and economically solve environmental issues to bridge the gap between today's energy inefficient facilities and the sustainable development and design needs of tomorrow. SET Corp's technologies deliver essential resources for business operations while reducing their customers' environmental impact and conserving essential and diminishing resources. SET Corp's offering includes treatment, recovery, reclamation and re-injection services for produced water from oil and gas production and ultra-efficient tri-gen systems that offer combined cooling, heating, and power generation with the added capability of water production from a single energy source. Ticker: OTCQB: SETS, www.SETCorp.us
Safe harbor statement
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operation, financial position and long-term strategies. These forward-looking statements involverisks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies,potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, and fraud. More information about factors that potentially could affect SET Corp's financial results are included in SET Corp's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-Q or 10-K and subsequent filings.
For more information, contact:
GE Oil & Gas
+39 055 423 8872
Ken Darling or Howard Masto
Masto Public Relations
+1 518 786 6488
For SET Corp:
Investors: SET Corp
+1 801 810 9888
+1 801 810 9888 X701