OriginOil (OOIL) Announces First Licensee to Sell EWS Based Systems
OriginOil announced that Delta, Colorado-based Industrial Systems Inc. (ISI) has sold four industrial systems, powered by OriginOil’s EWS, to Synergy Resources for produced water and oily waste treatment in Trinidad and Tobago (T&T)
October 3, 2014 (FPRC) -- OriginOil announced that Delta, Colorado-based Industrial Systems Inc. (ISI) has sold four industrial systems, powered by OriginOil’s EWS, to Synergy Resources for produced water and oily waste treatment in Trinidad and Tobago (T&T). This milestone represents the first commercial sale by an OriginOil licensee of a system incorporating EWS.
The four units, built for on-site processing of waste oil, are each capable of treating 250 barrels per day of contaminated water. Synergy Resources, of oil-rich Trinidad & Tobago, expects the system to reduce water treatment costs, lessen adverse environmental impacts, decrease freshwater requirements for industrial processes such as steam reinjection for enhanced oil recovery, and help operators comply with environmental regulations.
“ISI will integrate our process with existing filtering and membrane systems that typically suffer from clogging without our pre-treatment,” stated Lee Portillo, OriginOil vice president of engineering. “This is a challenging assignment, but we believe we can help recover significant amounts of valuable oil, while delivering cleaned water for beneficial uses.”
The majority of oil and gas procured from the Caribbean comes from Trinidad and Tobago where there is a critical amount of participation by major multinational oil and gas companies. The nation additionally has broad natural and environmental measures in place which include the Water Pollution Rules, actualized in 2001 under the Environmental Management Act. This manages the nature of oil and gas offices and obliges treatment of produced water before release to the evironment.
Bottom Line: This deal in Trinidad with Synergy Resources may only be for 4 systems, but these are big machines and represent a nice win for the company, in my opinion. More importantly, OOIL is getting Big Oil to nibble at the licensing model, which is the culmination of YEARS of patience and Management’s hard work!
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