Freedom Enters JV for Heavy Oil in Venezuela
Freedom Financial Holdings has entered into substantive discussions with the business group to form a Joint Venture for Venezuela.
The tests undertaken over the last six months have developed into discussions of forming a Joint Venture to take KC 9000® into Central and South American oil production.
CEO Brian Kistler stated, "The group of business leaders that we have been dealing with over the last 6 months have expressed firm interest in taking KC 9000® into the Central and South American markets. The ability to permanently decrease the viscosity of Heavy Oil with low API is huge. It took some time but I am confident that this along with all of the other projects we have in process will develop into something we all can be excited about."
Heavy Oil accounts for almost 2/3 of world's oil reserves. Delivering that oil to market cost effectively is a major opportunity and challenge, and the business which makes a significant aspect of this process easier and cheaper will benefit massively. FEI has proven their technology in their local environment on their own and other leases. The variation in oilfield geology and oil chemistry plus the size of the worldwide industry means extending this success requires steady long-term development.