LONDON (Alliance News) - Greka Engineering & Technology Ltd on Monday said it expanded its infrastructure over the course of 2015, as it reported an increase in both gas production and power generation for the year.
The engineering, procurement, construction and management service company serving the unconventional gas sector in China said it processed 40.0 million cubic metres of gas in the year ended December 31, up 27% from the 31.6 million cubic metres processed a year earlier.
Around 35.0 million cubic metres of that production was sold in the period, a 26% increase from the 27.7 million cubic metres sold a year earlier, with the remaining 4.9 million cubic metres being consumed by the company for its own electricity generating business.
The company generated 17.2 million kilowatt hours of electricity during 2015, up from 13.9 million kilowatt hours produced a year earlier, whilst electricity sales increased to 13.3 million kilowatt hours, from 10.9 million kilowatt hours.
Greka pointed to the increasing focus on infrastructure, with the construction of 27 kilometres of gas-gathering pipelines over the year, which brought the total to 68 kilometres, and the building of 8 kilometers of power lines, creating a power network of 80 kilometres.
It said it sold 47 gas station refuelling equipment items over the year and 10 SCADA systems. These are Supervisory Control and Data Acquisition software and hardware solutions for the remote management of transmission systems, power facilities, vehicle management and retail services.
Greka said no time was lost due to injury or accident across all four divisions in 2015, and it recorded 192,752 hours of incident-free man hours over the year.
"Greka Engineering continues its gradual expansion of the infrastructure as called upon from its clients. We continue to be focused on creating a 'one-stop-shop' to the many entrants in to the sector while concurrently committed to expanding our technological solutions within the unconventional gas production and distribution niche," said Executive Chairman Randeep Grewal.
Greka shares were up 3.5% at 0.413 pence on Monday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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