Oil extraction facility opened
Petroteq Energy Inc. announced the successful unveiling of its environmentally friendly heavy oil processing and extraction plant located at the Asphalt Ridge in Uintah Basin, Utah. The facility was part of the original vision of the company, to relocate, reassemble, and upgrade its plant to integrate facility improvements of all major process systems and increase its operational capacity to an expected 1,000 barrels per day (bod). Petroteq plans to open its plant in September 2018.
Petroteq’s technology utilizes a modular and small footprint/capex, allowing the company to extract over 99% of all hydrocarbons while using no water and generating no greenhouse gases, requiring no high temperatures or pressures. Petroteq has clean oil recovery technology that is environmentally safe and sustainable for the extraction of heavy oils from oil sands, oil shale deposits, and shallow oil deposits. The company’s proprietary process produces zero greenhouse gas and zero waste. Subject to having sufficient capital, the company’s goal is for the plant to produce as much as 2,000 bod by year end 2019 and 5,000 bod by year end 2020.
– Edited from a Petroteq press release by CFE Media.