Flowserve Corporation (NYSE:FLS) received a multi-million dollar order from Caspian Pipeline Consortium (CPC).
The order, which was booked in the second quarter of 2010, includes mainline crude oil pumps, mechanical seals and support systems, and upgrades to existing pump units.
“We’re pleased to expand our relationship with CPC and help them increase pipeline capacity through our innovative and highly efficient pump and seal equipment,” said Tom Ferguson, president, Flowserve Flow Solutions Group.
CPC is the largest operating investment pipeline project in Russia today and connects the oil fields in Western Kazakhstan with the new Marine Terminal in Russia. By 2014, CPC plans to expand pipeline capacity to 67 million tons per year by increasing the number of pump stations and upgrading existing units.
The Flowserve pumping systems specified for this project are designed to increase efficiency, resulting in reduced energy consumption and decreased costs.
Prior to this order, Flowserve provided services to CPC through an existing long-term, performance-based, rotating equipment maintenance contract.
Caspian Pipeline Consortium (CPC) is a shipper-owned pipeline running through Kazakhstan and Russia. Three governments and ten companies representing seven countries currently participate in the project. The 1,510-km pipeline extends from the Tengiz oil field in Kazakhstan to a newly constructed Novorossiisk-2 Marine Terminal on Russia’s Black Sea coast.