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Ivanhoe Energy Inc. Message Board

  • brisan2184 brisan2184 Feb 22, 2013 11:33 AM Flag

    Article from LaRepublica in Ecuador

    Not sure if anyone saw this article from Early December from the LaRepublica out of Ecaudor:

    Ivanhoe anuncia planta de conversión de crudos pesados en Pungarayacu
    Sábado 1 de diciembre de 2012

    Quito, 30 nov (EFE).- La petrolera canadiense Ivanhoe, que opera en el denominado bloque 20 de la Amazonía ecuatoriana, prevé usar alta tecnología para convertir el crudo pesado que extraerá de esa zona en un producto más ligero, sin el uso de disolventes.

    Se trata de la tecnología HTL (Heavy to Light), que convierte al crudo pesado en un fluido más ligero, lo que facilita el transporte y el uso por parte de las refinerías, según explicó su director ejecutivo (CEO), Carlos Cabrera, en un conversatorio con expertos petroleros y periodistas.

    Aunque su operación en Ecuador aún se encuentra en una fase de exploración o evaluación, Ivanhoe prevé empezar a producir crudo en unos tres años, o antes, según explicó.

    La HTL es una tecnología pionera, bajo patentes y secreto industrial, que no usa diluyentes para aligerar la calidad y viscosidad del crudo pesado, sostuvo Cabrera al recordar que el petróleo que extraerá del bloque 20 tendrá 8 grados en la escala API.

    Una planta instalada en las cercanías de los pozos de producción convertirá a ese tipo de crudo en algo más liviano, de 16 grados API, lo que facilitará su transporte a través de los oleoductos, además de ser un fluido más manejable para las refinerías, insistió.

    Básicamente, la planta elimina el carbono del crudo mediante procesos de altas temperaturas y crea un petróleo sintético en el mismo campo de extracción.

    Aunque la tecnología de Ivanhoe aún no se encuentra en proyectos desarrollados, ésta se aplicará en campos que la petrolera canadiense tiene en Ecuador y Canadá, precisó Cabrera.

    En Ecuador se prevé instalar la planta en 2014, si los resultados de la fase evaluatoria lo permiten, añadió el directivo al recordar que desde que su empresa se hizo cargo del Bloque 20, en mayo de 2009, ha perforado tres pozos y efectuado investigaciones de sísmica para estudiar las potencialidades de los yacimientos.

    “El pozo que hemos perforado este año (de exploración) ha sido para nosotros extraordinario” y el Bloque 20 es una zona “donde hay gran cantidad de crudo”, apuntó.

    Indicó que cuando empiece la fase de producción se instalará la planta de conversión HTL en la misma zona de explotación y señaló que su empresa ubicará módulos que puedan procesar unos 30.000 o hasta 50.000 barriles diarios de crudo pesado.

    Con la tecnología HTL, el 92 por ciento del crudo pesado que se extraiga se convertirá en ligero y el resto se convierte en vapor y energía, por lo que “el residuo es prácticamente casi nada”, añadió Santiago Pástor, directivo de Ivanhoe en Ecuador.

    Precisó que en la “fase evaluatoria”, que terminará a finales de 2013, se prevén invertir unos 100 millones de dólares, y dijo que luego se harán importantes aportes de capital para instalar la planta de conversión.

    Cabrera, de su lado, recordó que en Ecuador Ivanhoe mantiene un contrato de “prestación de servicios específicos” y remarcó que el riesgo de la operación la tiene su compañía y no el Estado.

    Además, remarcó que otro objetivo de su compañía es operar en Ecuador con responsabilidad ambiental y social, sobre todo porque el proyecto se ubica en una zona de alta diversidad y de asentamientos indígenas como es la Amazonía.

    Asimismo, prevé convertirse en “un soporte” para las compañías que se adjudiquen los campos del sur de la Amazonía, hasta ahora alejada a la explotación, y que el Gobierno de Ecuador presentó esta semana a licitación.

    En esa región se estiman reservas de entre 400 y 1.600 millones de barriles de crudo pesado.

    Para Cabrera, en el mundo “se va a abrir un mercado interesante para crudos pesados”, con precios más altos de los que actualmente se cotizan, por lo que justificó el uso de tecnologías que los transformen en fluidos más livianos.

    Finalmente, Cabrera aseguró que la participación de Ivanhoe en Ecuador es “a largo plazo” y dijo que su compañía apuesta por América Latina, por lo que también prevén ampliar su relación con Perú, Colombia y otros países de la región. EFE

    What was really interesting to me was the forth to last paragraph. Translated, "It also plans to become "a support" for companies to be awarded the fields south of the Amazon, far away to the farm, and that the Government of Ecuador presented this week to bid."

    I wonder if this means Ivanhoe is trying to team with other oil companies for different oil fields in Ecuador in a mid-stream capacity?

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    • I would like to remind everyone that a large HTL deal could potentially bring over a Billion USD into IVAN's coffers over the lifetime of a project.

      In Ecuador, for example, the service fee for creating 1BB of light oil is $51/bb already.
      After expenses, and payments to JVP, IVAN would still have a nice profit/bb.
      Multiply that by a projected 100 K bb/day production, and it's not difficult to see that IVAN stands to earn quite a few hundred thousand dollars per day in profit. I won't be surprised by $500K/day profit. That's a big deal...

    • Ivanhoe announces conversion plant in Pungarayacu heavy oil
      Saturday December 1, 2012

      Ivanhoe announces conversion plant in Pungarayacu heavy oil
      Saturday December 1, 2012

      Quito, Nov 30 (EFE). - Canadian oil company Ivanhoe, which operates in the so-called Block 20 of the Ecuadorian Amazon, plans to use high technology to convert heavy oil extracted from the area in a lighter product, without the use of solvents.

      Technology is HTL (Heavy to Light), which converts heavy oil into lighter fluid, making it easy to transport and use by refineries, explained its chief executive officer (CEO), Carlos Cabrera, in a discussion with oil experts and journalists.

      Although its operation in Ecuador is still in a phase of exploration or evaluation, Ivanhoe plans to start producing oil in about three years, or earlier, as explained.

      The HTL is a pioneering technology under patent and trade secret that does not use thinner to lighten the quality and viscosity of heavy oil, held Cabrera to remember that oil extracted from the block 20 will have 8 API magnitude.

      A plant installed in the vicinity of the production wells converted to such something lighter crude of 16 degrees API, which would facilitate their transport through pipelines, as well as being a fluid more manageable for refineries, insisted .

      Basically, the plant oil removes carbon by high temperature processes and creates a synthetic oil in the same extraction field.

      Although Ivanhoe technology is not yet developed in projects, it applies to Canadian oil fields is in Ecuador and Canada, Cabrera said.

      In Ecuador plans to install the plant in 2014, if the results of the evaluative phase permit, the executive added, recalling that since his company took over the Block 20, in May 2009, has drilled three wells and conducted research to study the seismic potential of the deposits.

      "The well that we have drilled this year (Navigation) has been our extraordinary" and Block 20 is an area "where there is a lot of oil," he said.

      He said that if you begin the production phase will install the HTL conversion plant in the same area of ​​operation and said his company will place modules that can process up to 30,000 or 50,000 barrels of heavy oil.

      With HTL technology, 92 percent of heavy oil to be extracted will become light and the rest is converted into steam and energy, so that "the residue is practically nothing," added Pastor Santiago, director of Ivanhoe in Ecuador .

      He said that in the "evaluative phase", which will end in late 2013, is expected to invest about $ 100 million, and said that then become important contributions of capital to install the conversion plant.

      Cabrera, on his side, recalled that Ecuador has a contract Ivanhoe "specific services" and noted that the risk of having your company's operation and not the state.

      Also noted that another goal of his company is to operate in Ecuador with environmental and social responsibility, especially since the project is located in an area of ​​high diversity and indigenous settlements as the Amazon.

      It also plans to become "a support" for companies to be awarded the fields south of the Amazon, far away to the farm, and that the Government of Ecuador presented this week to bid.

      In that region are estimated reserves of between 400 and 1,600 million barrels of heavy oil.

      For Cabrera, the world "will open an interesting market for heavy oil", with higher prices for those currently listed, so that justified the use of technologies that transform into lighter fluid.

      Finally, Cabrera said Ivanhoe participation in Ecuador is "long term" and said his company's commitment to Latin America, so we also plan to expand their relationship with Peru, Colombia and other countries in the region. EFE

    • Translated to english:

      Ivanhoe announces conversion plant in Pungarayacu heavy oil
      Saturday December 1, 2012

      Quito, Nov 30 (EFE). - Canadian oil company Ivanhoe, which operates in the so-called Block 20 of the Ecuadorian Amazon, plans to use high technology to convert heavy oil extracted from the area in a lighter product, without the use of solvents.

      Technology is HTL (Heavy to Light), which converts heavy oil into lighter fluid, making it easy to transport and use by refineries, explained its chief executive officer (CEO), Carlos Cabrera, in a discussion with oil experts and journalists.

      Although its operation in Ecuador is still in a phase of exploration or evaluation, Ivanhoe plans to start producing oil in about three years, or earlier, as explained.

      The HTL is a pioneering technology under patent and trade secret that does not use thinner to lighten the quality and viscosity of heavy oil, held Cabrera to remember that oil extracted from the block 20 will have 8 API magnitude.

      A plant installed in the vicinity of the production wells converted to such something lighter crude of 16 degrees API, which would facilitate their transport through pipelines, as well as being a fluid more manageable for refineries, insisted .

      Basically, the plant oil removes carbon by high temperature processes and creates a synthetic oil in the same extraction field.

      Although Ivanhoe technology is not yet developed in projects, it applies to Canadian oil fields is in Ecuador and Canada, Cabrera said.

      In Ecuador plans to install the plant in 2014, if the results of the evaluative phase permit, the executive added, recalling that since his company took over the Block 20, in May 2009, has drilled three wells and conducted research to study the seismic potential of the deposits.

      "The well that we have drilled this year (Navigation) has been our extraordinary" and Block 20 is an area "where there is a lot of oil," he said.

      He said that if you begin the production phase will install the HTL conversion plant in the same area of ​​operation and said his company will place modules that can process up to 30,000 or 50,000 barrels of heavy oil.

      With HTL technology, 92 percent of heavy oil to be extracted will become light and the rest is converted into steam and energy, so that "the residue is practically nothing," added Pastor Santiago, director of Ivanhoe in Ecuador .

      He said that in the "evaluative phase", which will end in late 2013, is expected to invest about $ 100 million, and said that then become important contributions of capital to install the conversion plant.

      Cabrera, on his side, recalled that Ecuador has a contract Ivanhoe "specific services" and noted that the risk of having your company's operation and not the state.

      Also noted that another goal of his company is to operate in Ecuador with environmental and social responsibility, especially since the project is located in an area of ​​high diversity and indigenous settlements as the Amazon.

      It also plans to become "a support" for companies to be awarded the fields south of the Amazon, far away to the farm, and that the Government of Ecuador presented this week to bid.

      In that region are estimated reserves of between 400 and 1,600 million barrels of heavy oil.

      For Cabrera, the world "will open an interesting market for heavy oil", with higher prices for those currently listed, so that justified the use of technologies that transform into lighter fluid.

      Finally, Cabrera said Ivanhoe participation in Ecuador is "long term" and said his company's commitment to Latin America, so we also plan to expand their relationship with Peru, Colombia and other countries in the region. EFE

      Sentiment: Strong Buy

 
IVAN
0.28920.0000(0.00%)Mar 2 3:59 PMEST

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