FluidOil signs MOU with National Oil Corporation

Canada's FluidOil and the Libyan National Oil Corporation (NOC) have announce that they have signed a Memorandum of Understanding (“MOU”) 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.

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 and 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.”

(Source: NOC)

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