CALGARY, July 21, 2014 /CNW/ - N-Solv Corporation (N-Solv) is pleased to announce the execution of a Data Access Agreement making the Thailand Exploration and Production company, PTTEP Canada Limited (PTTEP) a participant in N-Solv's existing 500-barrel per day pilot plant, known as the BEST (Bitumen Extraction Solvent Technology) pilot.
The BEST pilot plant, located near Fort McMurray, Alberta, serves as a field-scale demonstration of the company's patented in situ production technology. N-Solv's technology, a solvent-based bitumen extraction process that uses no water, has the potential to reduce Greenhouse Gas (GHG) emissions from bitumen extraction by up to 85% with lower specific CAPEX and OPEX intensity than existing in situ extraction processes. Moreover, the process produces higher quality oil due to in situ asphaltene and heavy metal rejection. The pilot plant represents a major step in demonstrating that the technology is commercially viable, having been extensively and successfully developed and tested in the lab over the past decade.
"We started injecting and circulating solvent this past February. We've had a consistent production trend to this point and the data is showing us that we are on the right track, the right track being daily increases in oil production and evidence of significant in-situ deasphaltening occurring, It's equally gratifying to see others recognize the progress we are making, in particular through the position PTTEP has taken by participating with us at this stage of the project," stated Dr. John Nenniger, N-Solv's CEO.
"N-Solv's technology uses no water, requires 85 percent less energy to produce bitumen, and leaves a smaller environmental footprint than current in situ production techniques," stated former Alberta Energy Minister and current N-Solv Vice-President Murray Smith. He added, "This technology could be a significant solution to concerns regarding emissions from growing oil sands production. PTTEP has shown its interest in N-Solv™ as a go-forward technology for producing the oil sands sustainably, responsibly and efficiently. We thank them for their interest to furthering the development of this technology."
Alberta's oil sands contain over 170 billion barrels of recoverable oil, 80 percent of that oil is too deep in the ground to be mined and so it is produced using in situ processes. N-Solv's technology is also designed to work in thin bitumen zones and in low reservoir pressure environments.
Calgary-based, privately-held N-Solv Corporation was founded a decade ago to develop new technologies that produce cleaner and more sustainable energy from the oil sands. The company holds a significant intellectual property related to the technology and has received grant support from the Canadian federal government through Sustainable Development Technology Canada (SDTC) and the Climate Change and Emissions Management Corporation (CCEMC). N-Solv Corporation is making access to its technology available to the industry through numerous business models, including various forms of licensing as well as partnerships in projects.
The pilot plant project receives funding from the CCEMC. The CCEMC focuses on stimulating transformative change by funding projects that reduce greenhouse gas emissions and help Alberta adapt to climate change. Funding for the CCEMC is sourced from Alberta's large industrial emitters. In Alberta, large emitters have a mandatory legislated requirement to achieve specified reductions of greenhouse gases. If they're unable to reach their target, one option is to pay a levy of $15 per tonne into the Climate Change and Emissions Management Fund. The fund is administered by the Government of Alberta and the CCEMC receives grants from the fund to support its work. The CCEMC operates arms-length of government.
SDTC helps move Canadian clean technologies forward, readying them for growth and export markets. With a portfolio of companies under management valued at more than $2 billion, SDTC is demonstrating that cleantech is a driver of jobs, productivity and economic prosperity.
SOURCE: N-Solv Corporation
For further information: Alex Stickler, Vice President, Business Operations, N-Solv Corporation, Tel: 1 (647) 244-0571, Email: [email protected]; Murray Smith, Vice-President, Business Development, N-Solv Corporation, Tel: 1 (403) 920-3210, Email: [email protected]