Heavy oil production
Profero Energy can potentially create significant value in heavy oil assets by improving both their recovery and production rates. Typical heavy oil circumstances that Profero Energy can help alleviate are:
- Production and recovery rates being compromised by high oil viscosity.
- High capital costs of project development such as those for mining or thermal
recovery making a project unaffordable and/or commercially unattractive.
- Extraction techniques involving high energy consumption creating issues of
cost and environmental impact.
- Tailings and water purification creating unwanted environmental issues.
Heavy oil generally consists of proven resources non homogeneous in nature with limitations of production and recovery owing to viscosity. The impact of Profero’s LEMUR technology on increased production and recovery rates can be simulated in advance on such proven reserves thereby providing an assessment of the value created as compared to the costs associated with a related reservoir development plan and ongoing costs thereafter.
Profero Energy has proprietary technology named LEMUR that can increase the pressure of a heavy oil reservoir suitable for cold production and consequently improve production and recovery rates. Profero has also created alliances with oil viscosity lowering technologies which can lower the viscosity of heavy oil in the reservoir. The use of LEMUR in tandem with such technologies creates the potential to substantially increase the recovery of higher viscosity heavy oil reserves without necessarily having to undertake thermal recovery and the associated environmental, capital expenditure and energy issues.
Profero has flexibility over the basis of their commercial interaction with a fee per well stimulation model, field partnership or a blend of these approaches.
