Boustead International Heaters Win Contract from Berakas Power

BOUSTEAD INTERNATIONAL HEATERS PARTNERS GE OIL & GAS TO WIN LANDMARK CONTRACT FROM BRUNEI’S BERAKAS POWER

Singapore, 28 May 2013

Boustead Singapore Limited (“Boustead”) is pleased to announce that its wholly-owned subsidiary, Boustead International Heaters Limited (“BIH”) – a leading global heat transfer specialist – has together with consortium partner, GE Oil & Gas (“GE”), secured a landmark contract from Brunei’s national power producer, Berakas Power Company (“BPC”).  BPC is an independent power provider, generating and distributing electricity through four power stations in the Brunei-Muara district.

The project (“Project”) involves the installation of GE’s innovative ecomagination-qualified ORegenTM technology together with BIH’s waste heat recovery solutions to increase the output and efficiency of four GE LM2500 aeroderivative gas turbines at the Berakas Power Station, which is operated by Berakas Power Management Company Sdn Bhd (“BPMC”) on behalf of BPC and located outside the capital city of Bandar Seri Begawan in the Sultanate of Brunei. The system will be connected to three of the LM2500 turbines, each of which generates up to 22MW.  The fourth LM2500 turbine and one waste heat recovery unit will be kept on standby.

BIH will design, engineer and supply the waste heat recovery units which absorb heat from the turbine exhaust gases used within GE’s ORegenTM process. The equipment is scheduled to be delivered at the end of 2014 and commissioned in early 2015. The upgraded power plant is expected to start commercial operation in 1H 2015.

The Project is designed to help meet Brunei’s growing power requirements and has been made possible by the Sultanate’s Green Brunei initiative to promote energy efficiency and develop cleaner energy projects.  The Project represents the first use of the system in the Asia Pacific, which utilises a thermodynamic superheat cycle that recovers waste heat from gas turbines and converts it into 14MW of extra net electricity without using fuel or water nor producing any additional CO2 emissions.  The system also has minimal operational and maintenance requirements.

Mr Wong Fong Fui, Chairman and Group Chief Executive Officer of Boustead said, “We are proud to be working with world-renowned GE to deliver this landmark project to Berakas Power.  Berakas Power is taking a leading step amongst power producers, by being the first in the Asia Pacific to deploy such leading edge technology in power generation through environmentally-sustainable methods.

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