Oil exploration, development and technology group TomCo Energy and Valkor have formed a joint venture, Greenfield, which will look at the development of an oil sands plant at Asphalt Ridge in Utah; Valkor has also granted Greenfield a licence to Quadrise MSAR emulsion fuel technology for the processing of heavy sweet crude into IMO 2020-compliant heavy fuel oil.
Texas-headquartered Valkor has entered into an agreement with Petroteq whereby the management and operation of its Asphalt Ridge site will be transferred to Valkor and then on to Greenfield
Valkor has also granted to Greenfield a licence to the Quadrise MSAR technology, developed by Quadrise Fuels International, for the processing of heavy sweet crude into heavy fuel oil. This licence will cover all future plants that are majority-owned and operated by Greenfield in Utah.
The Greenfield joint venture intends to utilise Valkor’s know-how to upgrade the oil sands plant in order to undertake small-scale test operations, before potentially moving on to design a scaled version of a commercial scale plant.
The most significant upgrade to the plant will be the addition of the Quadrise MSAR technology, which will be applied to process the oil into a heavy fuel oil product for retail sale as IMO 2020 compliant bunker fuel or as No. 6 diesel for heavy machinery.
‘The aim of the upgrade works is to increase the plant’s capacity to 500 bopd and to run it for a sufficient period of time for the design to be reviewed and the operations verified by third party engineers.
On completion of this work, it is intended that a FEED will be completed for a commercial scale (up to 10,000 bopd) oil sands plant.