"The interaction of our customized microbes and custom nutrients with the reservoir fluids creates various downhole reactions that improve mobility of oil and increase permeability of the reservoir within a broad radius of the wellbore," commented Stuart Page, CEO, GloriOil. "With the support we've received from early adopter operators and our investors, we're now ready to deliver affordable well- and field-level enhanced recovery programs that increase production while lowering lifting costs."
Based on its breakthrough technology and recent successful field trials, GloriOil has just received a significant investment from GTI Group and Kleiner Perkins, a highly respected venture capital firm that has provided funding and support to such well-known companies as Amazon, Sun, Google and many others.
GloriOil delivers state-of-the-art biotechnology solutions to improve and increase recovery from mature oil wells. Its patented Enhanced Oil Recovery by Microbial Consortia (EORMC) process has been in development for 10 years by The Energy and Resources Institute (TERI) in India. GloriOil is privately held by TERI and GTI Group.
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