The exciting industry of oil production keeps on evolving. Gone are the days when inefficient oil extraction methods are used. Today, players big and small alike have invested in research studies to successfully obtain usable oil from the ground. Because of the unpure state of the recovered oil, companies are lucky enough to obtain from five to ten percent of the Original Oil in Place, better known as OOIP. In the business parlance, this is not a good percentage, and companies have now explored better ways to extract oil. Some of the enhanced oil recovery systems that simply work better are the ones with improved steam injection technology.
The concept behind steam injection technology is quite direct to the point. Crude oil extracting companies inject high temperature steam into the ground. This steam increases the pressure underneath, pushing the crude oil naturally, and then a man made apparatus lifts the oil towards the surface. Until the temperature of the steam goes back down to normal levels, the man made equipment will be able to continually obtain oil. This steam injection process is then repeated, once the temperature has gone low, and the cycle is repeated until desirable oil levels are recovered.
Near wellbore cleanup is also part of the winning formula behind the improved steam injection technology. Because of the presence of steam, trapped oil can also be recovered. Large companies such as Liqtech International, Inc. have ventured into this and other enhanced oil recovery systems, and the results have been admirable.
The results have been so impressive that Nakasawa Mining and Energy Limited has finalized a deal with Liqtech International Inc.. The deal amounts to USD $2.4 million, utilizing Liqtech's top notch silicon carbide ceramic technology, and industry leading innovations. The contract is expected to last for a few years, with numerous installation projects already underway. This is certainly a good news for the two companies, as enhanced oil recovery systems such as improved steam injection have consistently proven to deliver higher Original Oil in Place percentages.
This promising partnership has been in the works for the past months, and now that the deal has been inked, the I ndustry can expect a positive result of oil prices in the world market. Although there are still factors that are yet to be ascertained, both Liqtech Internaional Inc. and Nakasawa Mining and Energy Limited express optimism in the joint project. With the amount of capitalization involved, top notch equipment and technological know how are within reach.
Thankfully, Liqtech International Inc. and Nakasawa Mining and Energy Limited have forged this agreement to ensure that enhanced oil recovery systems are here to stay. With the ever changing oil prices, improved steam injection technology is expected to benefit consumers, lowering the price of oil in the market.