"HTC Purenergy” Announces the Signing of Agreement to Establish HTC GULF LLC for CO 2 Management Services in the Middle East
Regina , Saskatchewan - HTC Purenergy (“HTC”) today announced the signing of an agreement with Environmental Protection Technical Services Est. (EPTS) of Khobar, Saudi Arabia.
An agreement has been signed between HTC and EPTS to set up a joint venture under the name of HTC Gulf LLC “( HTC GULF)” to ultimately provide HTC’s CO 2 carbon management products and services to Saudi Arabia and other Gulf Coast countries in the Middle East.
HTC GULF has been invited by a large integrated energy company to prepare and submit a proposal to design, construct, and operate a smaller scale commercial CO 2 capture facility that will be used to provide CO 2 for enhanced oil recovery within legacy oil fields located in Saudi Arabia. It is anticipated that given the proven success of this project, HTC GULF will be well positioned to expand its CO 2 management projects to other oil fields located in the Gulf area.
HTC Chairman – Lionel Kambeitz commented, “With the decline in oil production from its legacy oil fields, Saudi Arabia and other Gulf Coast Countries are looking to take advantage of CO 2 enhanced oil recovery and CO 2 storage techniques proven up in the oil fields of Weyburn, Saskatchewan. The CO 2 management technology provided by HTC and the University of Regina is globally recognized, as evidenced by this agreement. HTC looks forward to expanding its operations into this new vibrant market for its CO 2 Management Products”.
HTC Purenergy is commercializing and deploying CO 2 capture and storage technologies for enhanced oil recovery and geological sequestration, with projects in Norway, United States, Canada, China, Australia and Saudi Arabia. HTC Purenergy operates from it head office in Regina Canada, as well as business offices in Sydney Australia and Beijing China with its technical services department located at the International Test Centre for CO 2 Capture at the University of Regina.
HTC Purenergy provides Carbon Management solutions to industry worldwide, from its head office in Regina, Saskatchewan. HTC is a public company, listed on the Toronto Stock Exchange Venture Exchange, trading as “HTC”. The latest corporate news is available on our website at www.htcenergy.com.
The TSX Venture Exchange Inc. does not take any responsibility for the adequacy or accuracy of the information contained in this news release.
For more information contact:
Jeff Allison,
HTC Purenergy
Telephone: (306) 352-6132
Fax: (306) 545-3262
E-mail: jallison@htcenergy.com
HTC Purenergy corporate developments can be followed on http://www.htcenergy.com/ and is traded under the symbol HTC