CORT is the proprietary technology behind Petroteq’s remediation energy efforts. The versatile technology can be applied to both water-wet deposits and oil-wet deposits — outputting high-quality oil and clean sand.
Furthermore, CORT possesses significant environmental advantages over historical production methods. The technology enables production from oil sands without using water during the extraction process. As a result, neither wastewater nor tailings ponds are created. It's a closed-loop system, which means that over 95% of the solvents used in the extraction process are recovered, recycled, and reused while roughly 5% remain within the oil that is extracted.
While CORT is currently being used for production from oil sands, the technology is versatile enough to remediate a variety of natural resources.
Our green technology is engineered to achieve high-quality and environmentally friendly production.
Our eco-conscious technology has been purposefully developed to achieve both remediation and oil production with no wastewater or tailings ponds.
Our continuous flow streamlines the production processes, enabling consistency and operational enhancements at every point of production.
Our closed-loop process ensures that over 95% of the solvents used in the extraction process are recovered, recycled, and reused while roughly 5% remain within the oil that is extracted resulting in no emissions during the extraction process.
Commercial Viability of Extraction Technology
Chapman Engineering Company, one of Canada’s most reputable environmental engineering firms, successfully conducted an economic analysis of Petroteq’s resource development process.
Chapman found the technology to be scalable, commercially viable, and cost-effective. This finding paves the way for continued expansion of the technology for in-house production and licensing opportunities for companies across the globe.
The technology extracts up to 99% of all hydrocarbon contents.
The technology recycles up to 95% of the solvents, the remaining 5% is left within the produced heavy oil and is used to make the product more transportable.
Petroteq's extraction process is estimated to have overall processing costs of $25.00-$30.00 STB of crude bitumen generated, delivering a netback of approximately $25.00- $30.00 per STB at $60.00 WTI.
A U.S. patent and corresponding foreign patents in Russia and Canada have been issued that cover the significant features of a system and process for extracting oil from oil sands. Also covered are key aspects of the extraction process that include: