NEW YORK, June 6, 2011 /PRNewswire/ -- Terra Energy &
Resource Technologies, Inc. (OTCQB: TEGR), a natural resource
exploration technology company, has been granted a services
contract by Transportadora de Gas del Sur S.A. (TGS), a major
Argentine gas transportation company controlling one of the longest
gas pipelines in South America.
According to the contract, Terra is to utilize its innovative
satellite-based methodology on a limited distance of TGS's pipeline
to identify conditions which could lead to pipeline corrosion.
The contract was signed in furtherance and in spirit of the
MOU that the companies signed in 2010.
"Although Terra will apply its satellite-based technologies only
to a short segment of TGS's pipeline, we plan to determine certain
corrosion and damage causing conditions universal to the whole
length of it," said Dmitry Vilbaum,
CEO of Terra Energy & Resource Technologies. "This service
contract is an opportunity for Terra to gain a larger contract with
TGS analyzing all of its 6,000 to 9,000 kilometers of the
pipe."
Dr. Alexandre Agaian, President
of Terra Energy & Resource Technologies, stated: "Most mature
pipelines in gas consuming and producing countries require
substantial and, as the pipes age, increasing prevention and
break-fix budgets. We intend to utilize our innovative
satellite-based survey and achieve the level of pipeline
diagnostics which would significantly reduce outage risks,
maintenance spending, and the need for expensive surface deployed
methods. Satellite and remote pipeline surveying is a new
business for Terra, and we hope to develop a reliable method, which
may lead to its worldwide use for identification of negative
pipeline conditions and causes of occasional catastrophic brakes
and outages."
About Terra Energy & Resource Technologies, Inc.
Terra Energy & Resource Technologies, Inc., through its
subsidiary Terra Insight Services, Inc., provides mapping and
analysis services for exploration, drilling, and mining companies
related to natural resources found beneath the surface of the
Earth. The Company uses a suite of innovative and efficient
technologies, which facilitate the prediction and location of
commercially viable deposits of hydrocarbons, gold, diamonds, and
other natural resources, and assesses them for any given geographic
area -- on or offshore. For more information, visit
http://www.terrainsight.com.
Safe Harbor for Forward-looking Statements
This press release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the safe harbor created by those sections. There are many
factors that could cause the Company's expectations and beliefs
about its operations, services, plans, projects, and contracts, and
its plans or proposals to acquire interests in, or participate in,
exploration activities or properties, to fail to materialize,
including, but not limited to, availability of capital, negotiation
and execution of definitive agreements, satisfaction of contractual
requirements, unfavorable geologic conditions, the amount of
reserves projected or ultimately discovered, and general regional
economic conditions.
For more information, please contact:
Terra Energy & Resource Technologies, Inc.
212-286-9197
info@terrainsight.com
SOURCE Terra Energy & Resource Technologies, Inc.