Mon, Dec 22, 2014 02:27
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Glori Energy Expands Into Brazil

Texas Business reports: HOUSTON—Glori Energy signed a field implementation contract with Brazil's Petrobras.

Under the agreement, Glori Energy will deploy its AERO (Activated Environment for Recovery of Oil) System into an existing Petrobras onshore waterflood project in Brazil.

After the completion of initial work at Glori's Houston laboratory, Glori's team will work with Petrobras to implement the AERO System in the field.

“Having seen the results generated by Glori Energy in field projects in the United States, we are encouraged to demonstrate the effectiveness and commercial viability of Glori's technology to Petrobras,” said Petrobras executive Ricardo Portella in a prepared statement.  “As a global leader in implementing new technologies, we are excited to further evaluate Glori Energy's AERO System.”

“South America represents an important source for the world's future oil supply,” said Glori Energy chief executive Stuart Page in a statement.  “We are very excited to have the opportunity to implement Glori's AERO System to make an impact in Brazil. We are honored to be working with Petrobras, one of the world's leading energy companies.”

Petroleo Brasileiro or Petrobras is a publicly traded corporation, the majority stockholder of which is the Government of Brazil. It is a multinational energy corporation operating in 28 countries with headquarters in Rio de Janeiro, Brazil. Petrobras is the third largest energy company in the world and is the eighth largest company in the world ranked by market capitalization.

Glori Energy's recovers oil trapped in reservoirs using existing oil wells. Glori partners with oil producers to increase their oil production through the deployment of its AERO System. The system makes use of existing non-potable water sources, optimizing the water quality to activate and sustain the indigenous reservoir microbial life with the desired metabolic activities.