Petrosonic Energy is an energy services company presently engaged in providing technologies that upgrade heavy oil in an economical and environmentally friendly way. In August of this year, the company announced that it had acquired 100 percent of the intellectual property for the Sonoprocess Heavy Oil processing technology from Sonoro Energy Ltd., as well as controlling interest in Petrosonic Albania, which included sonic reactors, a plant, and equipment located in Albania.
Petrosonic is in the process of commissioning its first standalone heavy oil de-asphalting and processing facility in Albania, with plans to start up the facility and commercialize the Sonoprocess Technology within the fourth quarter of 2012. The company is building a facility that will provide processing of 1,000 barrels of oil per day for the upgrading of heavy oil, and the plant will be the first commercialization of Petrosonic’s Sonic Reactor to provide energy- efficient and cost-efficient heavy oil processing. When that application has been achieved, Petrosonic plans to expand its capacity to as many as 5,000 barrels of oil per day.
The company’s patented Sonoprocess technology can be used to upgrade sour, very heavy oil present in Albania from approximately 10-12 API to approximately 16-22 API by removing ashphaltines, sulphur, and heavy metals. Using clean tech sonic energy, Sonoprocess de-asphalts heavy oil on a much smaller scale and at lower capital costs than conventional upgraders, and it does so without the use of water and without releasing emissions into the atmosphere. The increased value of the Sonoprocess product oil can then be sold at a substantial premium to refiners for upstream applications.
This processing can also be increased modularly, thereby enabling its benefits for small and medium heavy oil producers, transporters, and refiners, as well as large ones. Once the company has seen success with its first commercial facility, it is anticipated that heavy oil producers will desire to integrate the Petrosonic system at their own cost into treatment facilities. At that point, the company would sell the process solution and retain a royalty fee under this type of development. Though revenue per facility would be less, estimated at 50 percent, no capital would be required and only minimal support would be needed – thus allowing for rapid growth. Where it sees a competitive advantage and warranted risk for the potential economic value, Petrosonic may develop its own standalone facilities and consider equity in the resource plays itself to capture further upside and long-term value creation.
The company is additionally in the advanced stages of developing various other applications where upside opportunities exist, including heavy oil sands separation, from both oil sands and ecology pits, and oil separations from dill cuttings.
Guided by an experienced management and technical team that has been leading the heavy oil sector for more than three decades, Petrosonic Energy was created to provide innovative technologies for the energy sector. The company’s current focus is providing technologies that upgrade heavy oil in an economic and environmentally friendly way.
For more information, visit www.petrosonic.net
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