A new way of collecting bitumen could be coming to the Fort McMurray area.
Value Creation Inc presented its Clean Oil technology last night which is a SAG-D (steam assisted gravity drainage) method of extraction.
It removes the substance in bitumen that makes it viscous, and then upgrades it into medium crude.
CFO Dr. Ronnie Mo says medium crude can be sold to refineries that bitumen can’t.
“Once its commercialized we can actually supply to east coast of Canada.”
He adds the full refinery in Sarnia can’t process bitumen, “but they can process medium crude.”
He says it reduces greenhouse gas emissions because the bitumen doesn’t have to be re-heated.
“When the bitumen comes out, it’s hot and they have to cool it down using a heat exchanger.”
He says they then have to heat it up again, “but for us we make use of the wasted heat.”
It proposed a business plan to harmonize the RMWB’s urban and infrastructure expansion with it’s development.
CLICK HERE for more information on the technology.
May 22nd, 2013
