Mideast Oil receives funding for technology upgrade project

Online, September 4, 2009 (Newswire.com) - Parker & Boyd has agreed to fund an upgrade project for Mideast Oil with new control system technology. This upgrade will be installed at all of Mideast Oil refineries around the world.

The upgrade that is being installed will replace existing supervisory control and data acquisition Systems for the remote-area operating centers and main control rooms of all refineries. The upgrade also includes new remote terminal units [RTU] and retrofit existing RTU's , as well as replace wireless Systronic units. With these upgrades Mideast Oil will improve the compatibility between different generations of system components as well as grant access to the centralized, real time information as Mideast Oil aims to reduce operating and production cost even further.

Parker & Boyd are pleased to serve as their trusted business partner as they improve safety, reduce cost and increase overall efficiency.

Parker & Boyd is a premier provider of seed and early stage venture capital for innovative technology companies. Parker & Boyd has special expertise in co-founding and building technology companies from startup. While financial return is imperative, our greater mission is to initiate innovation and inspire the entrepreneurial spirit to thrive.