Opsens Receives Largest-Ever Order For Its OPP-W Fiber Optic Pressure And Temperature Sensors

Opsens Inc. ("Opsens") is pleased to announce that it has been awarded its most single significant contract to-date, to supply and install 48 OPP-W sensor systems in an Alberta SAGD oil sands project.

The contract has been placed by an oil and gas producer with a multibillion dollar market capitalization. Opsens Solutions Inc. ("Opsens Solutions"), wholly owned subsidiary of Opsens, will supply, install and service its proprietary OPP-W Pressure and Temperature optical technology and surface data systems. The systems will monitor pressure and temperature during the working life of the wells.

Opsens Solutions' experienced engineering and field service teams will manage the installations related to this contract. The programme is sequenced to start in the summer 2013 and is scheduled to be completed in early 2015.

During the last year, Opsens Solutions has positioned itself with capital investment and organizational changes, including moving to a new head office. These business initiatives will support contracts of this type by increasing Opsens Solutions' ability and capabilities to handle the associated increase in production and installation activities.

Opsens Solutions' President Tom Keegan said; "We welcome this prestigious contract. It is a continual testament to Opsens Solutions' accomplishments over the past years to build on its customer relationships in the oil and gas markets. This is combined with our goal of delivering superior value to our customers with downhole monitoring by optimizing production and reduce related operational costs".

In thermal recovery processes, Opsens' fiber optic technologies provide oil sands producers with real-time downhole pressure and temperature information about their SAGD wells during operation. The ability to accurately control bottomhole pressure at high temperatures for artificial lift systems such as electrical submersible pumps allows SAGD operators to improve steam/oil ratios and to reduce operating and lifting costs.