Hunting Signs Collaboration Agreement with Titan Oil Recovery Inc.
Agreement adds organic oil recovery to product list
Hunting PLC, the international energy services company, today announced
that it has signed a collaboration agreement with US-based enhanced oil
recovery company, Titan Oil Recovery Inc.
The agreement allows Hunting to add Organic Oil Recovery (OOR) to a
growing list of Hunting ‘TEK-Hub’ products and technologies focussed on
enhancing production in late field life.
The OOR process involves stimulating the growth of specific species of
indigenous microbes within producing reservoirs, which have the effect
of reducing the physical size of trapped oil droplets, greatly enhancing
production rates at a fraction of the cost of alternate Enhanced Oil
Recovery (EOR) technologies.
Founder and Chairman of Titan, Ken Gerbino commented, “We are very
pleased to have established this agreement with Hunting and look forward
to working closely with our new partners to maximise economic recovery
from ageing oil producing assets in the UKCS, Norway and other global
provinces.”
Managing Director of the Europe & Africa division for Hunting, Bruce
Ferguson added, “In the UK, we are committed to the agenda set out by
the OGA to ensure maximised economic recovery from the North Sea. This
has led us to add several new production enhancement products and
technologies to our portfolio. We have done our homework on Titan OOR,
and on the evidence of a 94% success rate on 48 commercial fields in the
US, Canada, Australia, and Indonesia, we are convinced that this
technology can provide a low cost highly effective alternate to
mainstream polymer and low saline-based EOR options.”
To support the roll out of OOR in the UK and internationally, Hunting
have engaged Dave Puckett. In his former role as Senior Reservoir
Engineer EOR Specialist within the OGA, Dave was a co-author of the 2016
OGA EOR Strategy and EOR Delivery Programme. Dave is now a
member of a combined Hunting-Titan OOR team engaged in well ecology
sampling and laboratory testing programmes for reservoirs in the UK and
Norway.
Within a total of over 300 production well implementations of OOR,
multiple customer authored SPE papers record average oil production
increases within the range of 25% to 700%, and costs per incremental
barrel of under $6 USD. No topside modifications are required for
offshore implementation of OOR.
About Hunting
Hunting PLC is an international energy services
provider to the world's leading upstream oil and gas companies.
Established in 1874, it is a premium-listed public company traded on the
London Stock Exchange. The Company maintains a corporate office
in Houston and is headquartered in London. As well as the United
Kingdom, the Company has operations in Canada, China, Indonesia, Kenya,
Mexico, Netherlands, Norway, Saudi Arabia, Singapore, South Africa,
United Arab Emirates and the United States of America.
About Titan Oil Recovery Inc.
Titan Oil Recovery Inc. is the global leader of Organic Oil
Recovery with significant field successes on oilfields on four
continents. The company’s unique biodegradable technology allows for oil
production from late stage as well as mid-stage oil production to be
enhanced by creating micro-droplets within the tiny pore spaces of a
typical oil reservoir. Micro-droplets and other changes in the reservoir
unique to the Titan Process allow for a dramatic increase in oil
mobility and hence production increases. The technology recovers trapped
oil and requires no capital expense.
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