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Alvopetro Announces Operational Update and Attendance at Fall Investor Summit
Alvopetro Announces Operational Update and Attendance at Fall Investor Summit Cana...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n\n\n\nAlvopetro Announces Operational Update and Attendance at Fall Investor Summit\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Sept. 12, 2019\n\n\n\nCALGARY, Sept. 12, 2019 /CNW/ - Alvopetro Energy Ltd. (TSX-V: ALV; OTCQX: ALVOF) announces an operational update on our Caburé Midstream Project consisting of our 11-kilometre transfer pipeline (\"Transfer Pipeline\") and our gas treatment facility (the \"Facility\").\nCaburé Midstream Project (100% Alvopetro)\nConstruction of the Transfer Pipeline commenced with right of way preparation in May 2019. Line pipe has been laid out along 71% of the right of way. Over 42% of the pipe has now been welded and 14% has been installed and buried. The Transfer Pipeline is expected to be completed in the fourth quarter of 2019. \nOur Gas Treatment Facility is being constructed by Enerflex Ltd. (\"Enerflex\") where they will construct, own and operate the Facility. Enerflex is responsible for all operations and maintenance of the Facility and is warrantying the delivery schedule and on-stream performance of the Facility. All of the processing skids for the Facility have now arrived in Brazil and the majority have cleared customs and are at the field staging area. Enerflex has commenced field work for the installation of the processing skids. \nAlvopetro expects to start natural gas deliveries from the Caburé field in early 2020. Our natural gas is being sold under our long-term gas sales agreement with Bahiagás, the local distribution company for the state of Bahia. As part of this agreement, Bahiagás agreed to extend their distribution network by 15 kilometres and construct a new gas receiving station (City Gate) at the Facility site. In July, Bahiagás issued their service authorization to commence the construction of this pipeline extension. Their contractor has mobilized their equipment and Bahiagás has now received all line pipe shipments to the field. \nUpdated Corporate Presentation \nAlvopetro's updated corporate presentation is available at: http://www.alvopetr...