Oretech receives positive test results extracting oil from Tar Sands by: OilOnline Friday, August 05, 2005
Oretech, Inc has recently completed test processing on tar sands from the Athabasca region of Alberta, Canada. Preliminary results indicate the extraction of oil is apparently a higher percentage than that which is extracted by conventional methods, while remaining extremely environmentally friendly. The API gravity of the bitumen (oil) is significantly upgraded during the extraction process.
Alberta's tar sands comprise one of the world's two largest sources of bitumen; the other is in Venezuela. These oil reserves are second only to Saudi Arabia, and are found only in three places in Alberta -- the Athabasca, Peace River and Cold Lake regions -- covering a total of nearly 140,800 square kilometers. These tar sands currently represent 54 per cent of Alberta's total oil production, and about one-third of all the oil produced in Canada. Output of marketable tar sands production increased to 858,000 barrels per day (bbl/d) in 2003, up from 741,000 bbl/d the year before. It is anticipated that in 2005, Alberta's tar sands production may account for one-half of Canada's total crude output and 10 per cent of North American production.
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