January 10, 2008 Lehigh Valley, Pa.
Mexico’s President Felipe Calderón, flanked by Andrés Granier, Governor of Tabasco, formally dedicated the new Air Products (NYSE:APD) and Grupo Infra 90 million standard-cubic-feet-per-day (MMSCFD) nitrogen facility near Villahermosa, Tabasco, Mexico today. Air Products announced last month that the gas turbine and steam driven facility had begun its on-schedule supply of nitrogen to Pemex Exploracion y Produccion (PEP). The nitrogen is being injected into PEP’s Jujo-Tecominoacan oil fields for enhanced oil and natural gas recovery.
"It was an honor to have President Calderón and Governor Granier personally dedicate our facility today. It was good for them to witness the collaborative work going on in Tabasco and personally view the effort to make the most of available natural resources. We believe projects like this one will increase worldwide as energy demands increase and companies seek the most economically viable way to recover additional sources of energy," said Paul Huck, senior vice president and chief financial officer at Air Products, who joined the dedication event.
Air Products has been supplying nitrogen to the oil and gas industry for enhanced recovery since the early 1980s. Nitrogen for enhanced oil and gas recovery provides continued growth opportunities for Air Products and complements the company’s leading position in supplying hydrogen to refineries for the production of cleaner burning transportation fuels.
The Pemex project, which included the formation of a new joint venture company by Air Products and its Grupo Infra partner, was initially announced in 2006. Air Products and Grupo Infra have been supplying industrial gases to Pemex for over 25 years. The engineering and imported equipment for the new facility was provided by Air Products. CryoInfra supplied the local equipment and construction, and will operate the plant. Close collaboration between these two companies and close on-going communication with Pemex were the keys to the successful project execution.
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. Air Products has annual revenues of $10 billion, operations in over 40 countries, and 22,000 employees around the globe. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.
Grupo Infra includes several Air Products joint ventures in Mexico, including CryoInfra, S.A. de C.V.; Infra, S.A. de C.V.; Infra del Sur, S.A. de C.V.; Envases de Acero, S.A. de C.V. and other entities.