DEBARY, FL / ACCESSWIRE / March 6, 2015 / World
Oil Group, Inc. (PINKSHEEET: WOGI) would like to announce WOGI has
scheduled a meeting with officials in Peru for WOGI to perform EOR
(Enhanced Oil Recovery) on a producing well in Peru.
WOGI will apply to take over a concession for a heavy oil field
in South America that is currently producing 3,000 bpd of 14 API
Gravity crude, in order to ramp up its production to 20,000 bpd in
the first phase (2017) and then to 40,000 bpd in the following
phase (2019), using proven cost effective surface/subsurface,
drilling, completion and production techniques and procedures. The
firm commitment from Dr. Armacanqui to join WOGI enables the
Company build on his Heavy Oil Expertise (to produce up to 8 API
gravity crude) leading up to his official start date, as he has
demonstrated in the first Heavy Oil Field Developed in the Orinoco
Field (Venezuela in 1997-2001 - whereby 120,000 bpd peak production
was achieved within 3 years) - as described below.
WOGI's CEO will attend the first meetings in Lima,
Peru with the relevant officials April 2015.
Dr. J.
Samuel Armacanqui Hight Lights & Achievements
- 25 Years working in the Industry working for Major Exploration
&Production Oil and Gas Companies in 4 Continents, The
Americas, Middle East, Africa and Europe with Shell,
CONOCO-PHILLIPS, PDVSA, RWE Dea.
- Dr. Armacanqui has directly participated in the introduction
of over 20 New Technologies and Innovations to enhance key
processes in the Areas of Production, Reservoir Engineering,
Drilling, Completion and Facilities-Operations for heavy and light
crude oil fields, while reducing the load on the environment and
safe guarding from HSE accidents.
Few Major Achievements
- Carried out an Optimization Project in the GM-4 Field, San
Tome District, for Corpoven-PDVSA, Eastern Venezuela in 1997,
resulting in 60 % Field Production Increase at the end of the 5
months Study, with low cost measures and process optimization and
de-bottlenecking. Other recommendations from the analysis were
implemented after Study/Project completion resulting in additional
Production Increase. The entire Network of Gas Lift and ESP wells
was simulated.
- While working with the JV of Conoco- PDVSA for the $US2.5
billon dollars US Petrozuata Project, contributed to the success of
the First Heavy Oil Field Development in the world's largest heavy
oil accumulation in the Orinoco Field – Venezuela in two ways a)
Being in Charge of the production start in 1998 (first barrel) and
b) by improving the original Field Development Plan that lead to
achieve the 120,000 bpd goal within 3 years (done in 2001). It is
to note that the Petrozuata Project was named the Top deal of South
America in the 90's due to the stringent Loan Agreement Schedule
that incorporated a 3-Monhts Test Period with daily production of
120,000 bpd.
- Presented a proposal and implemented it in order to reverse
the unexpected Oil Production falling trend of PDO Oil & Gas
(Shell Oman) from a peak value of 700,000 bpd in 2001 by
introducing the Life Cycle Concept to the Artificial Lifting
Systems, implementation of new Technologies and Best Practices for
both Surface and Sub-Surface Processes.
- Introduced the ESP-Life Cycle Concept for the improved Process
Management and Analysis of the ESP-Application in PDO, resulting
in: a) sustained reduction of pump failures from 49% (2001) to 24%
(2008) leading to savings of approximately $US150 million dollars
due to prevention of 550 pump failures, increased pump run lives
and reduced deferment.
- In charge of the preparation of a Multimillion dollar contract
for provision of ESP Systems and Services. Work included setting up
a well sounded Contract Strategy, Technical Evaluation Matrix,
Clarification and Tender Award. Task completed in December 2007
achieving $US140 dollars saving for the company as compared to the
Company Estimates.
- Implemented a Program for effective introduction of
Innovations and New Technologies in the SUCO / RWE Dea-North Africa
resulting in the execution of 15 Specific Improvements that
supported achieving production peak in three Off-shore Mature
Fields of the Gulf of Suez (2010-2014), Ras Fanar, Zeit Bay and Ras
Budran.
- In Charge of the First Chemical EOR Project of Egypt for the
Ras Budran field, currently in progress. The Scope of Work includes
C-Method Screening, Chemical Laboratory Work, Core Flooding, the
Mathematical Simulation of Flood Tests, Pilot Test Design, Sector
Simulation and Economical Evaluation of the Full Field
Implementation.
About World Oil Group, Inc.
World Oil Group, Inc. (WOGI) is a petroleum company that has
traditionally focused on Oil & Gas Exploration in the
Pennsylvania markets by and through its wholly owned subsidiary EPA
Petroleum, Inc. First Quarter, WOGI is scaling up operations in the
MENA, Gulf and Central/South American regions in 2015, the company
will keep its shareholders updated.
EPA Petroleum, Inc. "EPA" is a wholly owned
subsidiary of World Oil Group, Inc. (WOGI). The Company is an
independent producer of crude oil and natural gas. EPA Petroleum is
actively involved in drilling activities within the Commonwealth of
Pennsylvania using Xite Energy, Inc. as its subcontractor drilling
partner.
World Oil Group, Inc. is now taking the path
breaking challenge to lead the world on its "Sustainable Oil &
Gas Field Model" implementing the concepts and related applications
model in the Petroleum Industry. WOGI is always seeking new
opportunities in the petroleum industry and will look to develop
economic growth in the areas it works. As WOGI enters into a
market, it will seek to help bring jobs within its foot print.
World Oil Group's vision is to grow exponentially with the
Petroleum Industries using "The Sustainable Oil & Gas Fields"
concepts and applications for E&P & EOR, and Energy Trading
in the USA and around the world.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
For more information contact:
CONTACT:
Nathan Hall, President CEO
World Oil Group, Inc.
Ph. 407-777-9228
info@epapetroleum.com
www.WorldOilGroup.com
Twitter.com/epapetroleum
facebook.com/epapetroleum
SOURCE: World Oil Group, Inc.