E&P "just to keep the lights on, although can be some good surprises there"
GTL master license from syntroleum, air blown technology. Recent license with govt in Egypt. Small commercial demo project there now. Converts stranded gas into liquid.
Challenges to industry: needs onsight gas, need to buy light oil to mix with heavy oil to transport to market costs of nat gas are prohibitive costs of diluent is prohibitive results are stranded and abandoned deposits, and construction of massive plants to convert
HTL solution- small scale on sight upgrading technology, using by-products of process to displace natural gas use for process, and the results are a light oil that doesn't need to be mixed to lower viscosity for transport.
central facilities are expensive multi billion dollar bets, these are available to only a relatively small number of places and are slow to build.
IVANHOE has 10-15 BBD capability which is cheaper, easy faster to build and operate.
Very similar to "cracker" whatever the hell that is.
Low capex, and smalle scale. Smaller than delayed coker, less expensive.