Sonic process to be adapted to heavy oil processing
VANCOUVER, BC-Sonic Environmental Solutions has entered into an agreement with PetroSonic Energy Systems for the development of a crude heavy oil upgrading and processing system incorporating Sonic's patented technologies. Under the terms of the agreement, PetroSonic will collaborate and fund the initial development of a new heavy oil Sonoprocess(TM) for the upgrading and processing of heavy oil. The first stage of the agreement will focus on confirming the development concept. Subsequently, Petrosonic will engineer and install a complete prototype plant to optimize the design variables of the system. Upon successful completion of the first stage, Sonic will have a 40% interest in PetroSonic and will work together with PetroSonic to establish a prototype installation directly in the field. By integrating Sonic's industrial-scale technology into an upgrading Sonoprocess(TM) for heavy oil, PetroSonic expects to be able to improve the economics of the midstream processes significantly. Once the prototype plant has been successfully demonstrated, PetroSonic will be entitled to obtain a global licence from Sonic to use the process, and will pay a royalty to Sonic.