2 May 2017
FluidOil & Steam Oil Cooperation Agreement
FluidOil has entered into a cooperation agreement with The Steam Oil Production Company to explore the potential of integrating FluidOil’s VHTL oil upgrading technology into an offshore steam flooding project.
Steam Oil is working on plans to launch the world’s first major offshore steam flooding project and has, under licence or award, a number of heavy oil reservoirs in the UK, in an area known as the Western Platform, some 140 km east of Aberdeen. These discoveries have a total of nearly 650 million barrels of oil (“mmbbls”) in place.
Further information > http://bit.ly/2oSXCAD
13 April 2017
Potential acquisition of FluidOil by Canadian Public Company
FluidOil announces that on 12 April 2017, Dawson Gold Corp. (NEX: DYU.H) announced the potential acquisition of FluidOil by way of reverse takeover. Disclosures by Dawson Gold Corp. are available at www.sedar.com, including the news release, as released on the TSX-V > http://bit.ly/2o9IVoa
23 March 2017
MEDIA: Daily Oil Bulletin - Buyer of Ivanhoe's Partial Upgrading Technology Hopes to Build Demonstration Plant
By Pat Roche
A tiny British-based company that acquired Ivanhoe Energy Inc.’s partial upgrading technology hopes to build a commercial demonstration plant if an oilsands partner will pay for it > http://bit.ly/2mP4s8Y
14 March 2017
FluidOil is delighted to welcome two new colleagues. Alireza Aghighi Rad joins as a Process Engineer. Alireza has over 13 years' experience in the Oil and Gas sector ranging from Conceptual Design to Basic, FEED and Detailed Engineering in both greenfield and brownfield units. Francisco Zaragoza also joins us as a Process Engineer. Fran has over 11 years' experience in process engineering and research, specifically in fluidised bed technologies including commercial scale-up. Their analytical skills and technical expertise will help accelerate progress with the commercialisation of VHTL.
10 March 2017
FluidOil Appoints Celicourt Communications
FluidOil Limited has appointed Celicourt Communications as its financial and corporate public relations adviser. Celicourt will help FluidOil build links with key stakeholders globally and will help the company raise awareness of the progress it is making with the commercialisation of its VHTL heavy oil upgrading technology.
Celicourt is a London-based strategic communications agency, which specialises in the natural resources, energy and industrial sectors.
01 March 2017
New Head Office
FluidOil Limited has moved its head office to Eastlands II, London Road, Basingstoke RG25 4AW, United Kingdom. The new offices provide significant growth potential and set the company up for the next stage in its development as it looks to commercialise its VHTL heavy oil upgrading technology.
Heavy oil upgrading technology test programme
FluidOil, the independent international heavy oil technology company, has finalised a six-month testing programme to prove and optimise the commercial benefits of its proprietary and patented heavy oil upgrading technology.
During a previous testing programme, conducted at its pilot plant in the UK, FluidOil demonstrated that its VHTL technology increases the viability of heavy oil production by substantially reducing the viscosity and upgrading heavy oil to higher value synthetic crude oil, which easily reaches pipeline specifications.
This new testing programme will be managed by a team from FluidOil using its Feedstock Test Facility (FTF) located at Southwest Research Institute (SwRI) in San Antonio, Texas, USA, and purchased by the Company as part of its acquisition of Ivanhoe Energy's Heavy-to-Light (HTL) processing technology in January 2016.
The FTF will be run initially with Ivanhoe's HTL technology to establish an upgrading baseline, after which the FTF will be adapted to process heavy oil using the FluidOil's VHTL technology. The results of these tests will quantify the commercial benefits of VHTL and will support the engineering and design of commercial facilities.
Charles Parker, CEO of FluidOil, commented: "This testing programme will provide further evidence that our upgrading technology will be a paradigm shift for heavy oil production. We expect the results to validate the financial and environmental benefits of VHTL ahead of commercialisation later in 2017.
"With global crude oil demand set to continue to rise and conventional oil resources being rapidly depleted, the need for cost effective heavy oil upgrading solutions remains of paramount importance to the industry. We firmly believe that VHTL will provide a cost-effective and environmentally sound way to create greater economic value from heavy oil."
FluidOil completes acquisition of Ivanhoe Energy IP
FluidOil Limited (“FluidOil”), a provider of oil upgrading technology solutions, has completed the acquisition of the intellectual property of Vancouver, Canada-based Ivanhoe Energy Inc. (“Ivanhoe Energy”) as well as the acquisition of its Texas, USA-based subsidiary Ivanhoe Energy Holdings Inc.
Ivanhoe Energy was recognised as an international leader in heavy oil development and production with core operations in Canada, Ecuador, China and Mongolia. The acquisition includes Ivanhoe Energy’s irrevocable licence to its HTL heavy oil upgrading technology, which provides an alternative to the traditional approach to the transportation of heavy crude oil.
The acquisition consolidates FluidOil’s position as a global leader in onsite oil upgrading technology. Ivanhoe Energy’s HTL technology will be incorporated into FluidOil’s existing Viscositor technology to create a fully patented, enhanced, heavy oil upgrading solution, to be called Viscositor HTL.
Viscositor HTL will provide a commercially attractive solution to enable on-site upgrading of heavy oil to circa. 30 degree API light oil whilst producing less than 0.3% Olefins. This enables oil producers to increase the value at the wellhead of each barrel of oil produced by eliminating the need to purchase or transport site diluents, supplying higher grade oil direct to refineries and reducing energy usage. The technology will also be used to process waste oils.
Charles Parker, FluidOil CEO, said: “We are extremely excited about this acquisition which fits well with our strategy to provide market-leading heavy oil upgrading solutions. By installing Viscositor HTL technology at the production site or midstream in the supply chain, countries and companies being squeezed by declining rates of benchmark crudes will realise significant improvements in the feasibility and economics of producing and refining heavier crude oils.”
FluidOil, with its Canadian joint venture partner, Red Giant Energy Services (“Red Giant”), intends to test the combined Viscositor HTL technology at Ivanhoe’s Feedstock Test Facility in San Antonio, Texas, USA, secured with Red Giant as part of the acquisition. The data from these tests, together with data from tests being conducted on FluidOil’s pilot plant at its development centre in London, UK, will be used to finalise the engineering of a 300 barrel per day commercial demonstration plant to be commissioned in Alberta at the end of 2016.
Company forms a Joint Venture with Canadian Oil Services Business to deploy its Viscositor(TM) Technology
FluidOil Limited (FluidOil) enters into a joint venture partnership with Red Giant Energy Group Limited (Red Giant Energy Group). The joint venture will conduct business under the name Red Giant Fluid (RGF) in order to commercialize FluidOil’s Viscositor technology in Canada. The newly formed company will focus on processing heavy crude oil from Alberta, Canada where it can improve the economics of heavy oil production while still reducing the environmental impact within the province.
Jason Clemett, President and Chief Executive Officer of Red Giant Energy Group stated, “The Viscositor has the potential to be one of the most innovative technologies to enter the Canadian Heavy Oil industry in decades. It has the potential to add significant value at the wellhead to each barrel of oil produced. We very excited to utilize our people and experience in Canada to launch the Viscositor Technology”.
This was echoed by Charles Parker, CEO of FluidOil “We have been looking for a strong partner in Canada, one who knows the industry inside out and one who has the capability and experience to successfully roll out Viscositor in Canada. We are thrilled to have teamed up with Red Giant Energy Group and excited to work with them over the coming years”.
New Chairman strengthens the management team at FluidOil Limited
Gerald Malone’s recent appointment as Chairman and Director of Fluid Oil Ltd brings executive and investment expertise to this emerging oil technology enterprise. With the company’s recent relocation to the Thames Enterprise Park, Gerald will begin fleshing out the strategic objectives for Fluid Oil Ltd with the goal of a market listing in three to five years.
Malone, a solicitor by profession, was educated at St. Aloysius’ College, Glasgow and The University of Glasgow. He also served two terms as a Member of Parliament from 1983 to 1987 and 1992 to 1997. When MP for Aberdeen South he was a member of the House of Commons Energy Select Committee, a Parliamentary Private Secretary (PPS) at the Department of Energy, PPS to the Secretary of State for Trade and industry, then a Government whip from 1986 to 1987 in Margaret Thatcher’s government.
He has been Scottish editor of The Sunday Times, a current affairs columnist, served on a variety of company boards and was a presenter of business and current affairs programmes on BBC Radio and Radio Clyde. From 1988 to 1991 he was Director of European Affairs at the Energy and Environmental Policy Center at the John F Kennedy School of Government, Harvard. Since 1997 he has built a portfolio of interests in the healthcare, software services and financial services sectors in Britain and the USA and so brings impressive financial and technical strengths, and expertise to this important new role.
Commercial Demonstrator begins customer work
FluidOil Limited has today announced that it has successfully commissioned its latest Viscositor heavy oil upgrading demonstration reactor at its facility at the Thames Enterprise Park on the site of the old Coryton Refinery. This has replicated and surpassed the work completed on the reactors commissioned at SINTEF in Norway.
The 25 barrel per day demonstration plant conducted a number of tests including upgrading a 6API Orinoco crude to 25.5API at a liquid yield of 93.5%. The plant will now be used to undertake customer tests and provide engineering data required to build the first commercial plants which will be able to upgrade between 500bpd to 1,000bpd.
FluidOil’s environmentally friendly technology called Viscositor is predicted to process heavy crudes and dirty oils for between $2 to $5 /bbl with CAPEX of around 25% of the cost of traditional technologies. The Company intends to build on this successful demonstration at the Thames Enterprise Park with commercial plants now being planned for the UK and other key heavy oil countries.
Move to a new facility at Coryton/the Thames Enterprise Park by Thames Estuary
FluidOil has reached an agreement to house its Research and Development Centre at the decommissioned Cortyon refinery at the Thames Enterprise Park, just outside London. The first phase will be to relocate and recommission it’s V25 demonstration plant which will mark the establishment of FluidOil's London Research Centre. The nature of the site means that FluidOil will have the ideal platform with which to commission its first commercial scale equipment as well as to develop a business on site to process a wide range of heavy and distressed oils.
"This is a major step forward for FluidOil as we will be able to undertake far greater scale of R&D than previously possible. We will also have on site all the infrastructure and expertise we need to move the technology into commercial operations. This combination makes today a very exciting day for the Company," said Charles Parker, FluidOil's CEO.
Test Rig relocates from Norway to UK
FluidOil is relocating the V25 rig from Trondheim to its new Research and Development site in East London, Essex. The rig is currently being commissioned and is to start a range of testing programmes which includes a variety of feedstocks identified which are to serve as the basis for commercial terms.
Engineering and design of the V300 bpd reactor is completed.
Prototype Rig completes testing at SINTEF in Norway
Fluid Oil successfully tests and upgrades feedstock provided by Kelcas on the 25bpd reactor in the Sintef institute in Trondheim, Norway. FluidOil signed a LOI with EGATS LLC to develop a heavy oil business in the United States. Commercial agreement and negotiations are underway to commissions the first v300 bpd reactors.
Non-Executive Directors join the Company
FluidOil announces that Kenneth Tombs and Stein Bendixen have joined the company as non-executive directors. Ken brings considerable experience in delivering large scale projects including engineering/manufacturing, military, business transformation, and information technology and management projects. He also has considerable experience at both venture and multi-national scale businesses and will be an invaluable addition to the team as we seek to grow the business.
Mexican project takes first steps
FOMEX signs a LOI with PEMEX to develop the technology on offshore fields in the gulf.
New commercial analyst joins the Company
FluidOil announces that Max Baudouin joins the team as a Business Analyst. Max is a Qualified Certified Chartered Accountant and is also a native speaker in Spanish and French.
New Head of Engineering joins the Company
FluidOil announces that Howard Simons has joined the engineering team as Head of Engineering Development. Howard was previously the Technical Leader at Sonhoe, which was developing a large heavy high TAN, high sulphur crude upgrader complex.
Presentation to World Heavy Oil Congress
FluidOil presents its Viscositor technology to the World Heavy Oil Congress in Aberdeen.
FluidOil commissions Stål & Rörmontage to undertake the mechanical engineering of a 300 bpd unit.
FluidOil has signed an MOU with EGATS LLC to develop a heavy oil business in the United States. Samples will be tested using FluidOil's V25 rig in Trondheim, Norway, in order to provide data for the final engineering of commercial equipment. The Joint Venture expects to have a V300 operational in Q1 2015.
FluidOil has successfully commissioned a 25 bpd reactor in Trondheim, Norway. The rig produced a 26 API oil from a 14 API Orinoco blend on its first test and is now due to undertake a six month development programme to test additional process features for incorporation into commercial designs. It will also undertake customer tests.
FluidOil announces that Jeremy Doncaster has joined the operations team as a Senior Project Leader.
FluidOil signs a development agreement with SINTEF Energi AS in Trondheim Norway, to host FluidOil's planned 25 bpd testing rig (V25) and to provide R&D services to help install, commission and operate the rig.
FluidOil Research Mexico begins the fabrication of a customer testing rig to enable quick upgrade testing of customer oil samples.
FluidOil has signed a development agreement to identify both heavy oil projects in Nigeria and potential partners with whom to undertake these projects. Nigeria has an estimated 2 billion barrels of heavy oil reserves and is seen as an exciting market for FluidOil.
FOMEX establishes a research and development company in Campeche, Mexico - FluidOil Research Mexico SA de CV - with the objective of further developing the Viscositor technology and in particular how it can maximise its upgrading potential for Mexican produced crude oils.
FluidOil signs an agency agreement with Cavendish Environmental Services to deploy the Viscositor technology in Nigeria.
FOMEX signs an agreement with the Government of Campeche to fabricate all equipment for Mexican customers in Campeche City. FOMEX signs a lease for a facility.
FluidOil presents its Viscositor technology to the World Heavy Oil Congress in Aberdeen.
FluidOil signs a joint venture agreement with PYMSA SA de CV. The Companies establish FOMEX SA de CV in Mexico to promote Viscositor in Mexico.
FluidOil appoints Olav Ellingsen as Chief Technology Officer as well as Director of the Company.
FluidOil appoints Charles Parker as CEO.
A cold EST (Experimental Screening Tool) has been tested at Universite de Technologie, Compiegne, France with excellent results.