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Posted On: 09/16/2020 2:13:10 PM
Post# of 252
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF) Announces Completion of Study, Confirmation of Technology’s Lower Costs and Increased Capabilities
Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, has completed a Pre-FEED (preliminary) design for a proposed 5,000 bopd oil sands plant (single train). The study, conducted by Crosstrails Engineering LLC, a subsidiary of Valkor LLC, confirmed that an initial 5,000 bopd train can be constructed using conventional oil processing equipment at an estimated cost of $92.5 million. The study also noted that the same design, in a 2-train configuration, can be used for a proposed 10,000 bopd oil sands plant in Eastern Utah. Crosstrails Engineering will now begin a FEED (Front End Engineering and Design) study to refine the design and provide further specifications and additional information. “The company has been working with our engineering partners to improve production levels, and this Pre-FEED study incorporates all of the lessons learned during the initial de-bottlenecking of the pilot plant,” Petroteq COO George Stapleton stated in the press release. “Lessons learned as a result of upgrades currently underway at the pilot plant will be incorporated into the FEED Study for the 5,000 bpd plant, resulting in an improved and robust design, which can only benefit future commercial production by Petroteq and its licensees.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an integrated oil company focused on the development and implementation of its proprietary oil-extraction and remediation technologies, has completed a Pre-FEED (preliminary) design for a proposed 5,000 bopd oil sands plant (single train). The study, conducted by Crosstrails Engineering LLC, a subsidiary of Valkor LLC, confirmed that an initial 5,000 bopd train can be constructed using conventional oil processing equipment at an estimated cost of $92.5 million. The study also noted that the same design, in a 2-train configuration, can be used for a proposed 10,000 bopd oil sands plant in Eastern Utah. Crosstrails Engineering will now begin a FEED (Front End Engineering and Design) study to refine the design and provide further specifications and additional information. “The company has been working with our engineering partners to improve production levels, and this Pre-FEED study incorporates all of the lessons learned during the initial de-bottlenecking of the pilot plant,” Petroteq COO George Stapleton stated in the press release. “Lessons learned as a result of upgrades currently underway at the pilot plant will be incorporated into the FEED Study for the 5,000 bpd plant, resulting in an improved and robust design, which can only benefit future commercial production by Petroteq and its licensees.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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