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Libya’s NOC and UK firm Fluid Oil on 20 February announced an MoU to “evaluate the development” of the Haram heavy oil field located on NOC subsidiary Agoco’s block 104/47 in the Sirte Basin.
Fluid Oil says its patented ‘Viscositor Heavy to Light’ (VHTL) technology “improves the properties of heavy oil by reducing both viscosity and density, resulting in a higher value synthetic crude oil which can be transported as easily as conventional crude oil”. The firm says its on-field technology is capable of converting 8-16°API crude to “~30°API.”
The Haram field, was discovered in 1964. A total of 14 wells have been drilled with ‘oil in place’ reserves estimated at 950mn barrels of extra-heavy 18-22°API crude ( MEES, 4 June 1990 ). (CONTINUED - 171 WORDS)