FluidOil Plans to Commercialise Heavy Oil Upgrades After Acquiring Ivanhoe Energy

In a move that cements its status as a global leader in onsite oil upgrading technology, FluidOil Limited has procured Vancouver based heavy oil development and production company, Ivanhoe Energy Inc. Drawing on over a decade of technology, the company now plans to commercialise the heavy oil upgrade process, and introduce the industry to a cleaner, greener and more cost-effective solution.

Honing in on Ivanhoe Energy’s IP

For years FluidOil has built up its reputation as an innovation driven oil upgrading technology solutions group. Now, the company has advanced its dominance through the acquisition of intellectual property developed by Canadian owned company, Ivanhoe Energy. As well as the parent company, FluidOil has also stepped up as owner of its Texas-based subsidiary, Ivanhoe Energy Holdings Inc.

With core operations in Canada, Ecuador, China and Mongolia, Ivanhoe Energy was renowned as a global leader in the development and production of heavy oil. As a company it retained valuable information and data, including the licence to its next generation HTL heavy oil upgrading technology. As an ultra-efficient alternative to the conventional transport of heavy crude, HTL was always highly coveted. Now FluidOil owns the rights, and has already confirmed plans to incorporate HTL into its existing Viscositor technology, with a vision of creating an enhanced, fully patented heavy oil upgrading solution.  

Reducing the environmental impact of upgrading

The solution will be aptly yet unoriginally named Viscositor HTL, and will mark a new era of efficiency for the heavy oil industry. Onsite, the technology will allow producers to upgrade heavy oil to 30-degree API light oil, with an Olefins output of less than 0.3%. All without the need to engage site diluents. This means producers will be able to offer refineries higher grade oil, as well as cut their energy usage. Fast, cost effective and eco-friendly, it’s a commercially attractive solution for oil producers wanting to boost the wellhead value of every barrel.

The next generation of efficiency

FluidOil CEO Charles Parker is confident that the technology will keep FluidOil at the forefront of the onsite oil upgrading pack, commenting “We are extremely excited about this acquisition which fits well with our strategy to provide market-leading heavy oil upgrading solutions. By installing Viscositor HTL technology at the production site or midstream in the supply chain, countries and companies being squeezed by declining rates of benchmark crudes will realise significant improvements in the feasibility and economics of producing and refining heavier crude oils.”

During the takeover process, both efficiency and on-site safety will remain key concerns for FluidOil. For more information on how these fundamentals are managed within the oil industry, ‘Control Systems Offer Enhanced Operation and Monitoring Functions for Greater Efficiency and Safety’ offers readers new insight into the latest CENTUM VP® R6.02 integrated production control system technology from Yokogawa.