CALGARY, June 18, 2014 /CNW/ - James Robson, President and CE0 of Petro Motion Inc., announced today that the Alberta Company has entered into negotiations with a consortium of Chinese oil firms for the exclusive rights to distribute Petro Motion's patented EZ Flow additive in Asia.
"We met with the delegation during the Global Petroleum Show in Calgary and they immediately saw the potential," says Robson.
"They have heavy oil issues similar to Alberta. They have begun the due diligence process with the testing of specific heavy oil samples from a number of locations. They are anxious to get started and clearly understand the immediate savings using EZ Flow".
EZ Flow accentuates the behaviour of regular diluent, allowing it to act as a "super" viscosity reducer. Recent independent field trial demonstrated the addition of EZ Flow cut the required quantity of expensive diluents by 50 per cent.
With less diluents and more oil per shipped barrel, Robson says projected production analysis indicate immediate savings of $4 -$5 per barrel in Alberta without any investment in capital costs.
"The Chinese want to immediately seize this cost savings opportunity," he says.
The company has received numerous inquires about Canadian and U.S. distribution opportunities, but Robson said until a deal is finalized Petro Motion will continue to entertain proposals.
"It's interesting that the Chinese are moving so quickly, yet EZ Flow was invented and developed for simple implementation in Alberta," says Robson.
About Petro Motion Inc.
Petro Motion Inc. is an Alberta-based company engaged in the development of new materials and processes to improve the efficiency of producers working in heavy oil sector. Dedicated to sustainability and the development of innovative and eco-friendly products, it leverages future-oriented strategies and the best leading-edge technologies.
SOURCE: Petro Motion Inc.
For further information:
President and CE0 Petro Motion