GloriOil Launches Biotechnology Services to Improve Recovery
GloriOil is successfully applying biotechnology in mature fields in the Texas Panhandle and West Texas to improve recovery and reduce operating costs. Developed and proven in multiple fields in Asia since 2001, GloriOil's innovative, environmentally safe Enhanced Oil Recovery by Microbial Consortia (EORMC) process establishes a downhole bioreactor in the formation near the wellbore that has delivered substantial production gains from mature oil wells. In addition, field applications to date have noted a significant decrease in water cut while demonstrating an improvement in oil quality. A derivative technology has also been used to create an internal biofilm coating on downhole tubulars to prevent paraffin buildup.
"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.
- GloriOil Launches Biotechnology Services to Improve Recovery (Jul 24)