UOP LLC, a wholly-owned subsidiary of Honeywell International Inc (HON), was recently selected by BW Offshore to clean offshore natural gas in the United Kingdom. BW Offshore is a leading global provider of floating production services to the oil and gas industry. The gas treating technology will be the first membrane-based system on a Floating Production, Storage and Offloading (FPSO) vessel in the North Sea.
Slated to be leased to oil and gas exploration and production company Premier Oil, the vessel will feature the UOP Separex Membrane System.
UOP will be combining its UOP Separex membrane technology with its guard bed absorbents, which help in the removal of mercury and hydrogen sulfide for the BW Offshore FPSO. Through this technology, the contaminants will be removed from natural gas, which is likely to improve the overall gas processing efficiency. The contaminants once removed meet the export and user specifications and help protect downstream equipment.
Over the years, UOP has been creating world-class solutions for challenging offshore gas environments of the natural gas industry. This technology is well suited for the FPSO, facilitating gas access at reduced operating costs. With production expected to begin in 2017, BW Offshore's FPSO is expected to have a processing capacity of 60,000 barrels of oil per day and a storage capacity of 650,000 barrels.
Honeywell is a global diversified technology and manufacturing company with a wide range of aerospace products and services, control, sensing and security technologies for buildings, homes and industry. It also produces turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now in the industry include Federal Signal Corp. (FSS), ITT Corporation. (ITT) and Macquarie Infrastructure Company LLC (MIC), each having a Zacks Rank #2 (Buy).
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