CTC Confirms Hobson Secondary Oil to perform high-tech demonstration in China this year

Over $60 Billion USD of heavy crude oil once deemed to be "unrecoverable" is now within reach with newest generation of secondary oil recovery technology that is actually quite green.
 
 
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Sept. 27, 2010 - PRLog -- Beijing - Today Paul Zhang of the China Trade Commission confirmed for China Daily that one of China's top three oil companies has requested a demonstration of new high-tech oil recovery technology from the American company Hobson Secondary Oil.  "The demonstration on three wells in China will be conducted before the end of this year" said Zhang, "but no further details can be disclosed at this time" he added in fear that the announcement might disrupt stock prices.

Hobson Secondary Oil is the developer and patent holder for new third-generation steam injection technology that is 25%-40% more effective and 300% less expensive than any of its rivals. The small American company specializes in extracting the most difficult and thickest crude oil from as deep as 10,000 feet below the surface, without contaminating the oil nor the environment.

The HSO technology, unlike it competitors, uses "continuous stream injection" of super heated steam generated at incredible rates of 3,000 cubic feet per minute that is injected into oil reservoirs at up to 3,500 psi. This is the same amount of pressure found in a typical scuba tank.  The heat and pressure combine to melt away paraffins and asphaltenes that block oil flows, and then liquefies the heavy crude oil which resembles peanut butter in thickness before HSO servicing and maple syrup afterward.

The result of all this high technology is a 30% average increase in production on most any producing well, provided it is not located in clay sands formations.

The China Trade Commission has also learned that HSO is currently enhancing their technology with a "thermal retention device" that will allow them to reach even deeper wells in the very near future - perhaps as deep as 15,000 feet.

According to HSO literature and brochures, their technology can work both on an off-shore. HSO technology was first exhibited in China at a CTC Technology Fair in May of this year. If adopted by China's three largest oil companies, China's domestic oil production could increase by 30% within only a year.  Since HSO does not rely on chemicals and only injects steam down-hole, it is deemed to be a very "green" technology compared to competitors who utilize salt water, toxic chemicals, and "dirty oil".

HSO has two applications:  1) Reviving old capped wells that have not produced any oil in years (over 38,000 such wells in China alone) and 2) Increasing flow rates of existing clogged wells by an average dkiyt of 30%.

According to the API and most geologists and petro-engineers, almost 70% of the world's oil remains abandoned underground at this time since recovery methods up to now have not been economically practical. Hobson Secondary Oil solves the cost problem with methods that can recover a barrel of the heaviest crude for $6-$10 per barrel. According to an HSO engineer "Our methods are quite profitable so long as oil does not fall below $39 a barrel". " Theoretically, HSO technology could extend the world's oil production by more than a decade before our collective tank runs dry" concluded Zhang.

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The China Trade Commission was established in 1996 during the Clinton Administration and acts as a joint venture and funding facilitator between East and West entrepreneurs and small to mid-size companies, mostly in the environmental, energy, and technology sectors. The CTC does not accept unsolicited business plans, proposals, calls, nor visits from unregistered parties. CTC membership world-wide now exceeds 100,000 members. For a membership application contact Ken Woods by email or telephone.
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Source:China Trade Commission
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Tags:Hso, Hobson Secondary Oil, Green, Technology, China Trade Commission, Cnpc, Sinopec, Cnooc, China, Daqing, Shandi, Tangu
Industry:Energy, Science, Environment
Location:Beijing - Beijing - China
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Page Updated Last on: Oct 04, 2011



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