Announcing the launching of the first zero waste oil sand production Technology by Petroteq Energy Inc.
Online PR News – 29-May-2021 – New York 28/05/2021 – Announcing the launching of the first zero waste oil sand production Technology by Petroteq Energy Inc. a Canadian registered company publicly trading on the TSX Venture Exchange (Symbol: PQE) and the OTC trading platform (Symbol: PQEFF).
The Oil and sand Technology is carefully produced to be environmentally friendly and sustainable; they are design to consume little or no water, so no emission is produced. It is also made so no waste tailings ponds is created, which produces no emissions, and removes 99% of hydrocarbons from oil sands.
Introducing “The economic potential of the Petroteq technology and the innovation it has brought to the industry. Our CORT technology is achieving something that just a few years ago would be considered implausible,” said Alex Blyumkin, CEO and Chairman of Petroteq. The Petroteq Company is committed to balance the necessity of oil production and environmental protection: through achieving oil production without water usage, waste creation, and emissions and by extracting almost 99% of hydrocarbons from oil sand deposits, making it possible to reach EPA Tier 1 quality sand etc.
Given the economic and transformative potential, the acquisition of our Utah operations, makes us uniquely positioned for a win-win situation. The Utah oil sands are known to be rare heavy oil resource containing little to no sulfur. The heavy sweet oil found within the state meets IMO 2020 standards, and it is on par with production from the Bakken and the Permian basins.”
Currently, the Petroteq Energy Inc. Company has 87 million barrels on over 2500 acres at their asphalt ridge operations. Based on these numbers, the Petroteq Energy Inc. Company is programmed to produce up to 10,000 barrels a day for over two and a half decades.” Some key numbers include:
• 2500 acres under lease
• 87M bbl+ near-surface oil resource
• 10,000 bbl pilot plant cumulative production
• 500 bpd target with the current demonstration plant
• $20 or less per bbl production cost target
• $10/bbl+ potential additional margin on cleaned sand
• Feasibility confirmed / operation being certified
• First 5,000 bpd production plant engineered & planned
Petroteq has spent the last 10+ years perfecting the technology at its Utah operations. But now the company is ready to expand, and rightfully so, there are 25 countries around the world with surface oil sands mining. That means there are about 1.2 trillion barrels of untapped oil available for Petroteq’s innovation. For more information please visit our website http://www.Petroteq.energy