Petroleum Africa
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Tuesday, July 29, 2014
In APR Energy plc’s Q2 2014 report, African assets played an intricate role in bringing up revenues by 203% compared to Q2 2013.
In Angola, the company saw the successful commissioning of a mobile gas turbine power plant. However, Libya is where the company’s main focus was with the extension of the 450-MW contract through Q1 2015.
CEO John Campion said: “The Group has continued to perform well, delivering strong financial and operational results for the quarter. Renewals have been a major focus for us and continue to be a highly critical and strategic part of our business. With a sustained renewal rate in excess of 80%, our efforts are paying off and reflect the inherent longevity of our service. This can clearly be seen in the extension of the full 450MW contract in Libya, as well as in the extension of the first 100MW tranche of the Uruguay contract. These reflect the strong long-term relationships we have built with these customers and their preference for mobile gas turbines to deliver large-scale, semi-permanent power.”
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