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Article: Canada : Petrobank, Baytex try new oil extraction technique.
- Article from:
- TendersInfo
- Article date:
- October 28, 2009
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Byline: manish03
A Calgary company is using a counter-intuitive process burning oil to extract it in an experiment that aims to revolutionize heavy-oil production around the world.
Petrobank Energy and Resources Ltd. PBG-T , which piloted the technology in the Athabasca oil sands, is now applying it to a Saskatchewan petroleum reservoir in a joint venture with Baytex Energy Trust. BTE.UN-T The technology uses a slow-moving wave of underground combustion to heat reservoirs to temperatures as high as 600 degrees, hot enough to melt the heavy oil from the rock in which it is locked.
Heavy oil is a massive global resource; in Saskatchewan alone, ...