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Honeywell's UOP Modular Equipment Solution Selected by Kuwait Energy Company to Treat Natural Gas and Recover High-Value Natural Gas Liquids in Iraq

UOP modular equipment to process 110 million standard cubic feet per day of natural gasDES PLAINES, Ill., Sept. 2, 2014 UOP LLC, a Honeywell (NYSE: HON) company, announced today that it has been selected by Kuwait Energy Company and its partners to condition natural gas to meet pipeline specifications, and to recover valuable natural gas liquids (NGLs) at the SIBA gas field in southern Iraq's Basra Governorate.Kuwait Energy Company will use UOP modular equipment to process 110 million standard cubic feet per day of natural gas in two parallel processing trains, which will begin production in 2015. The modular design and construction of UOP equipment speeds construction, allowing the equipment to enter service up to 11 months faster than alternative approaches, while ensuring superior quality control. Modular solutions are particularly efficient for remote locations."This project demonstrates that UOP's pre-fabricated modular equipment is a solution for monetizing gas quickly, particularly in challenging conditions," said Rebecca Liebert, senior vice president and general manager of UOP's Gas Processing and Hydrogen business unit. "UOP modular equipment is designed to allow Kuwait Energy Company to reduce field construction time, enabling the company to begin processing gas and earning revenue faster than with traditional field-built units while also lowering its capital and operating costs."The UOP solution for this project includes supply and installation of UOP acid gas removal units, UOP Callidus thermal oxidizers, mechanical refrigeration, condensate stabilization and water treatment.UOP pre-engineered modular equipment can be shipped to remote locations. Modules are designed to fit together easily and efficiently, significantly reducing construction time and expense, and providing enhanced reliability after start-up. The modular approach also allows for swift field assembly and, when coupled with the UOP standardized installation plan, can result in a very cost-effective solution. For repeat customers, the standardized modular approach a pre-fabricated, uniform design drives greater ease of operation due to common parts, skid and installation layouts, and spares that simplify training, operations and maintenance.Honeywell offers a broad range of technologies for natural gas production, processing and transportation. Modular equipment is one of the key solutions offered by Honeywell's UOP Gas Processing and Hydrogen business to treat and process natural gas. UOP offers gas technologies to extract water, mercury, sulfur, carbon dioxide and other contaminants from raw natural gas streams, and to recover valuable condensate and NGLs such as ethane, propane and butane. UOP has supplied technology to more than 3,600 individual process units for gas processing in a broad range of applications throughout the world. UOP invented Polybed™ pressure swing adsorption (PSA) in 1966, and continues to innovate hydrogen purification technologies for maximum purity and recovery.Honeywell Process Solutions provides advanced automation, monitoring, safety and security systems for the entire gas supply chain to help operators increase plant reliability and efficiency while reducing costs and risk.The SIBA gas field will be operated by Kuwait Energy Iraq Ltd., a wholly owned subsidiary of Kuwait Energy Company, and an independent oil and gas exploration and production company operating in the Middle East. The field is a joint development project with Kuwait Energy Iraq Ltd., Turkish Petroleum Overseas Company, South Oil Company and Missan Oil.UOP LLC ( www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary of Honeywell International Inc. and is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions, a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries.Honeywell ( www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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