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Petroteq Completes Major Process Systems at Facility

Tue March 13, 2018 - West Edition #6

Petroteq Energy Inc., a company focused on the development and implementation of proprietary technologies for the energy industry, has successfully completed testing of all major process systems at its heavy oil extraction facility in Asphalt Ridge, Utah. Further, the company has initiated test runs of the utility system — among the final steps prior to launching commercial production.

The company has completed testing of the following process systems:

Oil Sands Ore — Raw Feed Material — Preparation Systems

• Excavator and custom-designed bucket that is able to shred raw oil sands ore into smaller pieces have been fully tested;

• increased surface area of ore enables more efficient oil extraction; and

• both the excavator and bucket ran continuously for at least eight hours.

Oil Sands Ore Pre-Treatment, Delivery System

• Electric motor for feeding conveyor has been fully tested;

• auger motors and pumps from the material pre-treatment and delivery systems have been fully tested.

Extraction of Oil From Oil Sands

• The motors and blades for the mixing and oil extraction tanks have been fully tested.

Solvent Capture, Recirculation System

• The fin fan cooler has been fully tested, including running the motors and executing a high-pressure check of the system to ensure there is no leakage;

• the company's proprietary closed-loop technology process recycles all hydrocarbon vapors; and

• pressurization tests are critical steps in ensuring the integrity of the system such that no harmful hydrocarbon vapors are released into the environment.

Solid-Liquid Phase Separation Systems

• All components of the phase separation system have been fully tested, including the centrifuges, motors, drives and caps.

Heavy Oil Recovery, Clean Solids Removal Processes

• The oil storage tanks have been cleaned and tested and are fully ready for heavy oil storage.

Petroteq Energy has received all requisite permissions from the relevant Utah agencies, including the Department of Environmental Quality (DEQ), needed to build and operate the facility in production mode. Notably, the company has received an air exemption permit based on its closed-loop, zero-emission technology and a ground water discharge permit certifying that the construction and operation of the plant have no deleterious impact on the quality of the surrounding ground water.

“We are on the verge of beginning our production phase at Asphalt Ridge,” said Alex Blyumkin, CEO of Petroteq Energy. “We completed reassembly and testing of the major process systems successfully and are in the final stages of pre-production testing of the utility system, bringing us one step closer to commercial launch at a time when demand for our products is on the rise.”

According to a “World Asphalt” report from Freedonia Group, demand for asphalt (bitumen) in the United States is forecast to rebound from the softness seen between 2005 and 2013, driven by stronger economic growth and increased residential construction activity as well as increased infrastructure spending at the federal, state and municipal level.