The added cost per barrel of oil recovered for EOR currently ranges from $3 - $24. CES estimates that it can extract a barrel of oil for as little as $2, irrespective of well depth, location, deposit geology and other factors, thus greatly expanding the market for EOR from its current worldwide revenues of about $25 billion to $220 billion by 2020.
Richard Aho, founder of CES, says his product can be produced anywhere in the world, including the USA, for an extremely low cost because his system has very few components and can be fully automated. He is planning to demonstrate a well-head unit that produces 2,000lbs of steam/hour.
"Our system is very compact and modular and can easily be transported from well-head to well-head for any given field," says Mr. Aho, adding, "We have had discussions with EOR parties who are interested in testing our system which we expect to have in the field within three months."
CES is currently negotiating joint ventures for steam applications that include power generation, industrial steam and heat, and propulsion applications based on newly developed linear generator technology.
CES has patents granted and patents pending and their technology is being further developed for many various applications including: power generation, industrial steam, automotive propulsion, desalination, reformation of methane gas for hydrogen production and coal-gasification.
For additional information, please visit the CES website: www.cavitationenergysystems.com
CONTACT: Richard Aho, 954-496-3838, email@example.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cavitation-energy-systems-ces-developing-next-generation-steam-technology-for-enhanced-oil-recovery-300380537.html
SOURCE Cavitation Energy Systems