Petromin is leading the way in technologically innovative methods designed to significantly improve reserves of existing oil pools (EOR) and to enhance the recovery of coalbed methane (ECBM) while significantly minimizing greenhouse gas (GHG) emissions.
The C02 Sequestration Technology adds significant value, flexibility and risk avoidance to coal and oil producers in areas with existing infrastructure and alternative development options and is also a unique option for Oil/Gas companies that wish to recover the development of stranded/depleted oil pools.
We believe that these innovative characteristics of the CCST process will provide us with an opportunity to significantly increase our base of oil and CBM reserves worldwide through joint venture and production sharing arrangements.
The most significant development of our strategy was put in place with a Technical Cooperation Agreement signed with the Alberta Research Council and its CCST unit in the third quarter of 2006. The agreement outlines our working relationship with the Alberta Research Council on all CCST-related projects in China. We intend to apply the leading-edge CCST process as a critical, value-added tool to establish partnerships with provincial coal bureaus, federal state level energy agencies in China and large cap Oil/Gas producing company's world wide. We consider the access to the technology as a major advance in the implementation of our corporate strategy because it will offer significant potential for broadening our access to project opportunities that might not otherwise be available to us.
» CO2 Sequestration - EOR
» CO2 Sequestration - ECBM