IST awarded $46M heat, oil recovery contracts
Innovative Steam Technologies has been awarded two international contracts worth $46 million to supply power and energy producers with its heat and enhanced oil recovery technology.
TORONTO—Innovative Steam Technologies (IST) has been awarded two international contracts worth $46 million to supply power and energy producers with its heat and enhanced oil recovery (EOR) technology.
IST, a wholly owned subsidiary of the Aecon Group, will design and manufacture 12 of its once through steam generators (OTSG) for Wood Group GTS as part of the Dorad Energy 800 megawatt, combined-cycle plant located near Ashkelon, Israel.
The company, which has a 72,000 square-foot manufacturing facility in Cambridge, Ont., said the design and supply project is it’s the largest to date. The power plant is expected to be the country’s largest privately owned facility.
The IST units will be used in combined cycle to recover waste heat from new gas turbines and supply superheated steam to two steam turbine generators.
The units are scheduled for delivery between late 2011 and early 2012.
In the second contract involves an OTSG for an EOR application that will be located in Lake Maracaibo, Venezuela. The unit, purchased by Premier Energy Service, will be owned and operated by Petróleos de Venezuela South America (PDVSA). Delivery is set for the spring.
IST has sold 174 units in 19 countries worldwide.