MEDIA RELEASE - GTL.F1 Opens Licensing Phase Zurich Switzerland, May 9, 2011 GTL.F1 was established in 2005, combining the three partners Statoil (Norway), PetroSA (South Africa) and Lurgi (Germany) expertise to develop and commercialise the Fischer Tropsch (F-T) technology as part of a Gas-To-Liquids technology offering. Through these joint activities, GTL.F1 has acquired all technology IP, know how and engineering expertise for the licensing of large scale plants including GTL.F1 s proprietary F-T technology. Lurgi, a member of the Air Liquide Group, acts as operator and engineering partner of GTL.F1 and PetroSA will provide the operating experience and reference plant. An engineering contract for an F-T plant is under execution and various commercial proposals are being negotiated. The technology development phase, mainly in the laboratories of Statoil in Norway and the semi-commercial demonstration at Petro SA s Mossel Bay Refinery, South Africa, has now come to a successful conclusion. The technology has progressed and developed to the point, where a new phase directed at licensing, engineering and commercial operation has started. The joint partners in the cooperative venture company, GTL.F1; PetroSA, Lurgi and Statoil, cordially announce that the latter firm will now withdraw from the ownership and management of the company. Statoil has played a pivotal role in developing GTL.F1's technology but, being primarily a user of technology in its own operations, does not see licensing of GTL technology as part of its core business. GTL.F1 has thus progressed and developed to the point where Statoil s further partnership is no longer essential for continuing success. Statoil will have access to the GTL.F1 technology on a preferential commercial basis. 1/6
Company Profiles: GTL.F1 GTL.F1, founded in 2005 in Zurich, Switzerland by Statoil, PetroSA and Lurgi, license proprietary technologies for GTL investments. Lurgi is the Operator of the company. GTL.F1's services comprise: Studies in GTL Licensing of a GTL Concept o MegaSyn FT Synthesis Upgrading Comprising Licensor engineering package Supply of FT Proprietary Equipment Supply of FT Catalyst Licensor Services for engineering, plant commissioning & start-up Product Marketing Support Technology Support o Optimisation / Improvements / Development Contact Person: Matthias Wagner General Manager GTL.F1 Tel: +49 (69) 58 08-22 59 Cell: +49 17 1446 6195 E-mail: matthias.wagner@gtlf1.com 2/6
LURGI Lurgi is a leading technology company operating worldwide in the fields of process engineering and plant contracting for the refining and petrochemicals markets. Its technological leadership is based on proprietary technologies and exclusively licensed technologies which aim to convert all carbon energy resources (oil, coal, natural gas, biomass ) in clean products. Lurgi is a subsidiary of the Air Liquide Group. Contact Person: Klaus Kilian Marketing / Communications Tel: +49 (69) 58 08-4254 Cell: +49 17 3693 0907 E-mail: klaus.kilian@airliquide.com 3/6
PetroSA The Petroleum Oil and Gas Corporation of South Africa (PTY) Limited, known as PetroSA, is South Africa s national oil company. It owns, operates and manages the South African government s commercial assets in the petroleum industry. PetroSA, a pioneer in the field of Gas-to Liquids (GTL) technology, is recognized internationally for operating the first fully integrated commercial GTL refinery. The GTL Refinery, is in operation since 1992, and produces 36000 bbls of high quality fuels from natural gas and associated condensate. Contact Person: Thabo Mabaso Spokesperson PetroSA Mobile: +27-84-466-3942 Email: thabo.mabaso@petrosa.co.za 4/6
STATOIL Statoil is an integrated oil and gas company with activities in more than 30 countries and more than 25000 employees. The group is the largest operator on the Norwegian continental shelf (NCS). Statoil has been developing Fischer Tropsch (FT) technology since 1986, involving patented catalyst and reactor design. Statoil s R&D work within the Fischer Tropsch (FT) technology includes pilot scale verification of proprietary catalyst and critical reactor elements for a slurry type FT reactor. Statoil has also built and is operating a world scale (2400 MT/d) methanol plant in Norway based on the most advanced and energy-efficient technology available. 5/6
What does GTL stand for? Gas-to-liquids (GTL) is a process used to monetise large natural gas reserves. The process entails converting the natural gas at high temperature and pressure with steam and oxygen to yield a mixture of hydrogen and carbon monoxide. This mixture of carbon monoxide and hydrogen is called synthesis gas (syngas). The syngas is then catalytically transformed in the Fischer Tropsch reactor to a variety of hydrocarbons, which in turn can be cracked or hydro-isomerised to diesel and other lighter hydrocarbons. Of great environmental significance is the fact that the products of the Fischer Tropsch process do not contain aromatic compounds and sulphur. The diesel boasts of a higher cetane number and the absence of sulphur, unburned hydrocarbons and particulate (soot) and nitrogen (NOx) emissions than its conventional counterpart. The significance of a higher cetane number is that the GTL derived diesel burns cooler and the absence of sulphur and aromatics make a cleaner burning fuel with reduced environmental pollutants. GTL fuels, neat or blended with crude oil derived fuels, meet the current worldwide challenge to produce environmentally friendly transportation fuels while also enabling the use of advanced engine technologies. 6/6