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Lockdown measures put in place to contain the spread of COVID-19 represent an unprecedented shock to global oil demand. The drop in global demand in April reached 29 million barrels/day year-on-year. As a result of this unprecedented fall in demand, oil-storage facilities have filled-up quickly and oil prices hit record lows. To prevent enduring damage, producers are shutting down wells, cutting investment and reshaping their business strategy.
Once the oil demand recovered and producers reactivate the crude flow and want to increase their wells productivity and recovery factor especially in the heavy-oil reservoirs, the industry needs to embrace new technologies to EOR. New Oil Generation comes with a promising, economically viable and environmentally friendly method called Exothermic Chemical Treatment (ECTÒ) using Binary Mixture. This method is based on injecting Binary Mixture into the wellbore to stimulate the crude flow. Our mobile unit does not need surface facilities and energy to generate steam, which has positive impacts on the energy efficiency, economics and environmental footprint of the technology.
Join our session to find out more about the ECTÒ technology. We are on the verge of a transition to a low-carbon economy. It’s your call if you wish to be a part of it.
Dr. Namat Al-Soof