Global Market Potential

The global demand for oil will continue to grow for the next 20+ years and more economical access to heavy oil will be a key factor to fulfilling the requirements.

The Global Energy Industry Needs VHTL

• Global oil demand is set to grow until 2040; an increase in heavy oil production is required to help fill the supply gap
• Heavy oil production is energy intensive with a higher carbon footprint than lighter oils
• Heavy oil is difficult to transport and requires diluting, heating, or chemical processing before it can be shipped
• Heavy oil attracts a discounted market value and is typically sold at up to c.40% discount to lighter benchmark oils
• Conventional upgrading technologies are limited to very large scale, capital intensive, centralised facilities

VHTL’s Compelling Market Opportunity

• Global resources of recoverable heavy oil & bitumen are currently estimated to be around 2 trillion bbls
• 11 million bpd of heavy oil are currently produced globally (11% of global production)
• Heavy oil production anticipated to grow by 60% to 15 million bpd by 2030
• Current market opportunity for FluidOil of c. $85 billion

8,900 Billion bbls of Heavy Oil and Natural Bitumine Resources Worldwide