ASSIST Energy Solutions Corp. “(ASSIST)”, and owners have engineered and manufactured a portable process facility for use in EOR and will conduct a Field Trial on a heavy oil well as the next step towards commercialization. ASSIST’S product consists of a direct contact steam generator and methods for operating non-thermal oil wells in high temperature service. The EOR Process includes production and injection of steam and gases into an oil reservoir during an injection cycle followed by a production cycle. The process has been named the Submerged Combustion Vaporizer or “SCV”. ASSIST’s plan is to offer contract reservoir stimulation services to the oil industry on a fee-for- service basis. Studies suggest that the SCV EOR Process is expected to recover increased oil from existing wells for approx. $15 - $20/barrel.
ASSIST was formed by two partners to undertake commercialization of its EOR product and services. ASSIST was born out of a need for a low cost enhanced oil recovery process that can be readily and cost effectively deployed at 1000’s of existing heavy oil wells throughout Alberta and Saskatchewan to recover the remaining 90% of reserves left behind after completion of primary recovery production. ASSIST has the world-wide license to commercialize the SCV technology to accomplish this objective.
Thermal Recovery Technologies Inc “(TRT)” is the owner of the SCV technology and licenses the technology to ASSIST. TRT’s business focus includes R&D in the areas of steam generation, carbon capture, oil & water treatment, and enhanced oil recovery, engineering design, procurement & assembly of manufactured products, technology licensing and sales and leasing of equipment.
ASSIST is owned 45% by HTC Purenergy Inc. and 55% by Thermal Recovery Technologies Inc. which is a joint venture company owned 50% - 50% by two companies that co-designed and developed the SCV EOR Process.