20th February 2019
FluidOil and National Oil Corporation (NOC) are pleased to announce that a Memorandum of Understanding (“MOU”) has been signed between FluidOil and National Oil Corporation of Libya to evaluate the development of the Haram heavy oil field. This evaluation will focus on using the latest heavy oil production techniques in conjunction with FluidOil’s VHTL on-site upgrading technology.
Engineer Mustafa Sanalla, Chairman of National Oil Corporation, said:
“We are seeking cutting edge technologies to help us maximise recovery of our national hydrocarbon assets. Haram is a field we have so far been unable to develop due to its viscous nature. We hope that VHTL will provide a solution to the viscosity issue, help improve recovery so that this becomes an attractive project for NOC.”
Charles Parker, Chief Executive of FluidOil, said:
“FluidOil is delighted to be working with the NOC to demonstrate the benefits of on-site upgrading of viscous heavy crudes. We are keen to showcase the full range of VHTL’s benefits from viscosity through to chemical reduction and the provision of on-site energy for Enhanced Oil Recovery.”
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FluidOil is an independent, international oil services technology company that is commercializing the ‘Viscositor Heavy to Light’ (VHTL) oil upgrading technology. VHTL is a proprietary and patented technology that provides a cost-efficient and environmentally sound way to increase the economic viability of heavy oil production by upgrading close to source. The VHTL process improves the properties of heavy oil by reducing viscosity, reducing density, and removing undesired contaminants, resulting in a higher value synthetic crude oil which can be transported as easily as conventional crude oil.
Further information on FluidOil and VHTL technology is available at http://fluidoil.co.uk/
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