National Oil Corporation of Libya signs with Fluid Oil MOU

Catogory : Market Report

National Petroleum Corporation and Fluid Oil signed a memorandum of understanding to study technology for the development of the Haram field for heavy oil. The National Oil Corporation (NOC) and Fluid Oil Co. Ltd. are pleased to announce the signing of a Memorandum of Understanding (MOU) to conduct a study to assess the development of the Haram Oil Field. The field assessment will include the use of the latest heavy oil production techniques, in conjunction with the use of the Fluid Oil (VHTL) technology to improve on-site efficiency.

“We are seeking to use the latest technologies that will enable us to exploit as much of our country’s crude oil assets as possible, in line with our national production strategy and objectives,” commented Mustafa Sanallah, Chairman of the National Oil Corporation. We can develop the Haram field from its discovery until today because of its sticky nature, and we hope that VHTL will provide a solution to this problem, which will help enhance the ability to extract and produce oil.

“We are pleased to work with the National Oil Corporation to demonstrate the effectiveness of the technology to increase the efficiency of the heavy, viscous materials in the field sites, both in terms of cost and in terms of the environment,” said Charles Baker, CEO of Flowed Oil. Show all the technologies provided by Flowed Oil, which will allow the National Oil Corporation to improve the economic feasibility of heavy oil, and will provide energy at the field site to promote oil production.