Commenting on the agreement, Egdon’s Joint Managing Director, Mark Abbott, said “A number of new technologies have been developed in the past 20 years to enhance well production rates for heavy oils and their handling at the surface. The Company decided that the best way of progressing the development of this potentially significant resource was to bring in a specialist company such as Masefield with management experience and access to proprietary technology in such heavy oil operations”.
Masefield Energy Holdings AG is a Swiss registered company with interests via subsidiary companies in heavy oil projects, including Nautical Petroleum PLC, a specialist energy company focussed on production of heavy crude oils from discovered reserves in the United Kingdom Continental Shelf and QPS AG, which has access via Masefield Energy Holdings AG to proprietary heavy oil technologies.
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