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Capstone Receives Another Significant Order In The Vietnam Oil & Gas Market

Stocks in this article: CPST

CHATSWORTH, Calif., July 8, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced it received an order to provide four C200 C1D2 Capstone microturbines to a leading oil and gas producer for two offshore platforms in Vietnam.

Located in the Cuu Long basin off southern Vietnam, the platforms are expected to yield an oil flow of approximately 50,000 barrels per day combined and generate a production value of approximately 5 million U.S. dollars per day.

The four C200 C1D2 microturbines will run on wellhead gas that flows through the offshore platforms, which eliminates the need for special fuels to be shipped to the platform. The microturbines will provide all power on the platforms. They are Optimal UL Class 1 Division 2 or ATEX Class 1 Zone 2 certified for use in hazardous areas, take up minimal space because of their small footprint, and require very limited maintenance.

The C200s will be installed in May 2014 and are expected to be commissioned in August 2014.

"We are proud to introduce highly reliable Capstone microturbines to Vietnam's oil and gas market," said Do Long Phi, Managing Director, ADA Engineering Co. Ltd., Capstone's distributor in Vietnam. "Winning this major project over gas engine competitors demonstrates the significance of microturbine reliability in the buying decision. As Vietnam's oil and gas production continues to grow, I strongly believe highly reliable microturbines will play a key role in both onshore and offshore markets. Currently oil and gas revenues serve about 20 percent of the country's gross domestic product."

With an estimated population of 90.3 million in 2012, Vietnam is the eighth-most-populous Asian country in the world, and 13th-most-populous country.  

Across the globe, Capstone microturbines reliably power oil and gas producing operations using unprocessed wellhead gas to generate continuous power. Capstone platform power solutions require little maintenance and avoid fuel transport and disposal of hazardous lubricants.

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