Business
Alvopetro Awards Pipeline Construction Contract and Hires Investor Relations Firm
Alvopetro Awards Pipeline Construction Contract and Hires Investor Relations Firm ...
About this update from Alvopetro Energy Ltd.
[{"type":"text","content":"\n\n\n\nAlvopetro Awards Pipeline Construction Contract and Hires Investor Relations Firm\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, Nov. 26, 2018\n\n\n\nCALGARY, Nov. 26, 2018 /CNW/ - Alvopetro Energy Ltd. (TSX-V:ALV) has awarded the contract for the construction of our 11-kilometre transfer pipeline.  Alvopetro has also retained the services of Renmark Financial Communications Inc. (\"Renmark\") to assist with investor relations activities.\nPipeline Contract\nAlvopetro has contracted Tecmaster Engenharia e Construções Ltda (\"Tecmaster\") to construct our 11-kilometre transfer pipeline from the Caburé unit to our Gas Treatment Facility being constructed by Enerflex Ltd. Tecmaster is a local construction company with over 15 years of on-shore pipeline construction experience in Brazil.  Alvopetro has also ordered all the required pipe for the project, and the total pipeline project is budgeted to cost US$3.5 million. Pipeline construction is expected to be completed over a 6-month period and under the terms of the agreement Tecmaster has provided warranties over the completion date of the project.  Alvopetro estimates that we will commence construction in March 2019 and that the pipeline will be fully operational by September 2019.  \nOur share of natural gas from the Caburé unit will be shipped via this 11-kilometre transfer pipeline to our natural gas processing facility and sold to Bahiagás under the terms of our May 2018 long-term Gas Sales Agreement.  In September 2018, we executed the Gas Treatment Agreement with Enerflex.  Under the terms of the Gas Treatment Agreement, Enerflex will construct and own the natural gas processing facility (the \"Facility\"), provide ongoing operations and maintenance, and warranty the delivery schedule and on-stream performance of the Facility. The Facility is scheduled to begin commissioning in November 2019 and be fully operational by the end of 2019.  Alvopetro plans to be in a position to deliver first gas at the end of 2019.\nInvestor...