Under the agreement, Glori will deploy its AEROTM System for enhanced oil recovery into an existing PDO field in southern Oman. When compared to alternative enhanced oil recovery methods, Glori's technology, which is based on natural biologic processes, has a much lower cost and is more environmentally sustainable.
Under the contract, Glori immediately deploys resources and commences its S3 Process to customize the AEROTM System for the PDO field. Upon completion of the customized solution, Glori's team will work with PDO to implement the AEROTM System in the field. In support of this contract and other opportunities in the region, Glori will expand the capabilities of its regional office located in Muscat, Oman.
'Glori is delighted to have the opportunity to enter into this field implementation project with PDO,' said Stuart Page, CEO of Glori Energy. 'As our first Middle East project, this contract represents a key expansion of Glori's geographical scope and establishes a footprint for Glori in a very important oil region. Glori has demonstrated compelling results in field projects in the US and looks forward to achieving similar success in Oman.'
This article is for information and discussion purposes only and does not form a recommendation
to invest or otherwise. The value of an investment may fall. The investments referred to in this
article may not be suitable for all investors, and if in doubt, an investor should seek advice from
a qualified investment adviser. More