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Quadrise: Fuel production system commissioned in Saudi Arabia

'Unexpected delay' in combustion boiler trial agreement process.



Quadrise's MSAR plant at Cepsa's San Roque refinery in Spain. Image credit: Quadrise Fuels International


Updated on 19 Feb 2018 10:15 GMT

Quadrise Fuels International plc on Monday provided an update on its planned combustion boiler trial project in Saudi Arabia, stating that the commissioning of its fuel production system has been completed.

Back in December, Quadrise had said that preparatory work for fuel production was essentially done, and that a third-party engineering study for the boiler consumption phase had been delivered to a client in Saudi Arabia.

In its latest update, Quadrise explained that the fuel production system had now been commissioned and the boiler engineering study accepted by its project clients.

'Unexpected delay'

The UK-headquartered firm did state, however, that there had been "an unexpected delay" due to "one aspect" of the internal approvals process relating to the combustion boiler trial agreement.

"The respective parties are working hard to resolve this issue and it is anticipated that this can be achieved by the end of Q1 2018," Quadrise said.

"All parties continue to support the process and are working towards completing all the necessary internal approvals required to reach final agreement as soon as possible," Quadrise added.

Quadrise noted that it was "evaluating options" to reduce the impact of the delays in finalizing the agreements for the commencement of fuel production.

This work, Quadrise said, will also including looking at ways of optimizing the production and logistical phases of the project so that the combustion phase can be completed during the second half of 2018 - in line with the original timeline.

As previously announced, the trial is only set to commence once all the agreements with the various participants - including a triparty and various bilateral agreements - were concluded.

At the end of last year, Quadrise had said that this was anticipated to be "early in calendar year 2018".






Related Links:

Quadrise 'not aware of any specific reason' for 32% drop in share price
Quadrise expects to start combustion boiler trial in early 2018
Quadrise delivers presentation to shareholders at AGM
Quadrise signs memorandum of agreement with JGC Corporation
Quadrise issues activity update following 'media speculation'
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