Chronos and Non-conventional oil reservoirs
Oil sands
As we know oil-eating bacteria biodegrades oil that has escaped to the surface. Oil sands are reservoirs of partially biodegraded oil still in the process of escaping and being biodegraded, but they contain so much migrating oil that, although most of it has escaped, vast amounts are still present―more than can be found in conventional oil reservoirs. The lighter fractions of the crude oil are destroyed first, resulting in reservoirs containing an extremely heavy form of crude oil, called crude bitumen in Canada, or extra-heavy crude oil in Venezuela. These two countries have the world's largest deposits of oil sands. Chronos has local offices, operations and legal entities to serve both locations.
Venezuelan Oil
Located in eastern Venezuela, north of the Orinoco River, the Orinoco oil belt vies Patrice Bergeron #37 jerseys with the Canadian tar sand for largest known accumulation of bitumen in the world. Venezuela prefers to call its tar sands "extra heavy oil", and although the distinction is somewhat academic, the extra heavy crude oil deposit of the Orinoco Belt represent nearly 90% of the known global reserves of extra heavy crude oil. Bitumen and extra-heavy oil are closely related types of petroleum, differing only in the degree by which they have been degraded from the original crude oil by bacteria and erosion.
The Venezuelan deposits are less degraded than the Canadian deposits and are at a higher temperature (over 50 degrees Celsius versus freezing for northern Canada), making them easier to extract by conventional techniques. Although it is easier to produce, it is still too heavy to
The resulting product, called Orimulsion, can be burned in boilers as a replacement for coal and heavy fuel oil with only minor modifications. Unfortunately, the fuel's high sulphur content and emission of particulates make it difficult to meet increasingly strict international environmental regulations. Venezuela's tar sands crude production, which sometimes wasn't counted in its total, has increased from 125,000 bbl/d (19,900 m3/d) to 500,000 bbl/d (79,000 m3/d) between 2001 and 2006 (Venezuela's figures; IAEA Patrice Bergeron #37 jerseys says 300,000 bpd). We at Chronos feels there is enormous potential in Venezuelan extra heavy oil and this was one of the driving factors in our establishing a fully functional operation in Venezuela to service the recruitment and software needs of the oil industry - both in tar sands and more conventional offshore projects.
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