Canada issues patent for new heavy oil upgrader
Executives with Ivanhoe said that a new patent was issued in Canada related to Ivanhoe's proprietary HTL (heavy-to-light) heavy oil upgrading process.
The new patent, issued in the name of Ivanhoe Energy, covers petroleum applications of the core HTL process and protects the HTL process itself as well as the upgraded products produced from the HTL process.
This patent builds on and is a complement to other issued and/or filed patents related to the core HTL technology and its petroleum applications.
This portfolio of patents includes a recently issued core patent related to the underlying HTL technology that expires in 2028.
"This new patent is an important addition to the existing patent portfolio protecting our HTL technology," said Dr. Silverman, chief technology officer for Ivanhoe.
"From a strategic perspective, advancements in the protection of our intellectual property in North America are vitally important," said chief operating officer David Dyck.
"Ivanhoe continues to believe that North American heavy to light crude oil differentials will widen from present levels over the longer term, which will challenge heavy oil project economics.,” he continued.
“HTL represents a viable, environmentally responsible, cost competitive alternative to protect and capture these economics, creating Ivanhoe shareholder value as a result."
Heavy oil production and processing is a cornerstone and primary focus of Ivanhoe Energy, and HTL heavy oil upgrading is a key competitive advantage of Ivanhoe Energy as it executes its heavy oil business plan worldwide, company officials said.
This plan includes expansion opportunities based on upstream integrated HTL applications such as the Tamarack project in Western Canada, as well as HTL midstream heavy oil upgrading opportunities worldwide.
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