Global Resources Reports Test Results for Drill Cuttings Technology
Global Resources said that the results from its third and final round of testing of its patent pending microwave technology on oil drill cuttings have been completed. The results show the Company's technology removed all but 0.01% of the contaminants from oil drill cuttings. According to leading industry sources, no other technology has been able to reduce the contaminants in oil drill cuttings to this level to date.
GBRC's results have been confirmed by the Intertek Group, a FTSE 250 company that provides global testing, inspection, and certification services to a wide range of global industries as well as an extensive range of exploration and production petroleum solutions to the oil and gas industry. Their services include exploration and production, oilfield chemistry, process measurement, production and geochemistry, hydrocarbon allocation and evaluation.
The Norwegian Oil Industry Association (OLF) recently commissioned Anderson et al. to provide an examination of the disposal of oil drill cuttings in the Central and Northern parts of the North Sea. The scope of the examination encompassed the investigation into various methods of handling oil drill cuttings in connection with field abandonment and included retrieval technology. At 1.0%, the North Sea has one of the most stringent standards for disposal. GBRC's patent pending microwave technology can reduce the containments to 0.01%. By utilizing GBRC's technology the containments can be disposed of on-site, which could result in significant savings estimated at $300 to $600 per ton to the oil drilling industry and in the North Sea area alone could have saved the oil industry an estimated $500,000,000 in on-site disposal of oil cuttings related costs.
GBRC also reported that they are in discussions for the sale of microwave units using their patent pending technology capable of extracting all but 0.01% containments of oil drill cuttings with two of the world's leading petrochemical companies. Further details will be forthcoming.
In conclusion Frank Pringle stated: "That in their lab in West Berlin, New Jersey that they have taken the oil cuttings and heated them to a temperature over a period of seven minutes and turned the cuttings in to glass. To the companies knowledge this has not been done previously by any other technology, in this amount of time or with the limited amount of energy used by patent pending microwave their unit."
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