4th Sept 2006

Aberdeen headquartered Masterpower Electronics, has been awarded a major Variable Speed Drives contract with CNR International UK Limited.

This new business will generate a substantial increase in revenues and growth in employees.

CNR is a leading independent oil and gas exploration company with significant interests in the Northern North Sea, around the Ninian and Murchison hubs and the Central North Sea including the Banff/Kyle and Tiffany/Balmoral hubs. CNR International averages 80% interest in these producing properties and operates virtually all of the assets.

The company continues to execute its business strategy in the North Sea around exploitation of existing facilities. This includes the Ninian field and this major drives project is focused on optimisation of the reserves and ultimately extending the fields' economic life.

Commenting on the contract, Director of Masterpower, John Masterton, said: "This is a significant new business win for Masterpower Electronics. We are delighted to have been awarded this new contract with CNR. CNR has been very rigorous throughout this process and we are excited about working with it to deliver successful MV drives to the Ninian Field. The benefits and performance improvements gained from an MV drive for this project include enhanced process improvements and energy efficiencies through precise control, leading to substantial cost reductions, increased flexibility, increased life of components and reductions in maintenance costs."

Masterpower electronics recently installed its 50th medium voltage application in the oil and gas and petrochemicals industry making it one of the leading drives specialist companies in the UK and Europe. The company is said to offer clients one of the largest teams of power electronic electrical engineers in the UK and continues to invest in research and development in new technologies and product development. Masterpower claims an outstanding record of providing customers in the North Sea power electronic solutions with local support.

Concluding, John said: "Many processes in the oil and gas industry benefit from an MV drive and with our unrivalled technical expertise and key partner, Rockwell, we deliver variable speed drive solutions for ESP's, multiphase pumps and compressors. With companies looking to reduce costs, optimise processes and increase flexibility, Masterpower offers customers an optimum solution with its variable speed drives."