EVTN Receives Multi-Unit VoraxialÂ® Order From Major Oil Company
FORT LAUDERDALE, Fla., Oct. 26, 2011 /PRNewswire/ -- Enviro Voraxial Technology, Inc. (OTCBB: EVTN) announced today that it has received a multi-unit purchase order to install four (4) Voraxial ® 2000 Separators at the oil production facilities of one of the world's largest oil and gas production and exploration companies. The Voraxial ® Separators, which were recently shipped, will be installed for bulk oil/water/solid separation. This application for the Voraxial ® represents a large global market requiring bulk oil, water and solid separation as a critical part of the oil production process. EVTN's patented Voraxial ® technology provides the oil producers with a more compact and effective solution which increases efficiencies and decreases cost for the oil companies.
This customer processes millions of gallons of produced water per day and is a world leader in applying advanced technology to boost production from mature oil and natural gas fields and access hard-to-reach reserves. It is a high priority for most oil companies to consistently replace and expand reserves through improved recovery. EVTN's advanced Voraxial ® separation technology can assist the oil companies in meeting these objectives.
The water that is extracted from the ground with the oil is called produced water. Produced water comprises over 98% of the total waste volume generated by the oil and gas industry, making it the largest volume waste stream associated with oil and gas production. Oil reservoirs frequently contain large volumes of water and as oil wells mature, the amount of oil produced from the well decreases while the amount of water needed to be treated increases. In the continental United States, it is estimated that more than 10 barrels of water are produced for each barrel of recovered oil . The efficient separation of oil from produced water and the environmentally responsible treatment of the remaining water are critical processes in the production of oil. EVTN's Voraxial ® Separator offers the industry an economical solution to treat this increasing volume of produced water.
"We are proud of our growing relationships with major oil exploration and production companies. This shipment represents another significant installation this year with yet another major customer," stated John A. DiBella, COO of EVTN. "We are achieving our goals this year regarding record sales and profits and are on target for a similar growth in 2012."Due to contractual agreements, often required by major corporations, the customer name is withheld.
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