(EnergyAsia, January 22 2013, Tuesday) — Canada’s Sunshine Oil Sands Ltd, which is listed on the stock exchanges of Hong Kong and Toronto, has signed a one-year agreement to share oil sands exploration technology developed by the oilfields division of China’s CNOOC Ltd.
Calgary-based Sunshine said it has signed an agreement with China Oilfield Services Ltd (COSL) to cooperate in the further development of multiple thermal fluid oilsands exploration technology in Canada. The cooperation could also lead to the Chinese firm to conduct thermal fluid tests in Sunshine’s acreages to confirm “the feasibility of multiple thermal fluid techniques and other relevant technologies” for use in oilsands exploration.
“The technology which was developed and patented by COSL has the potential to reduce the facility foot print and operation cost for generating steam and other thermal fluids to inject into reservoirs,” said Sunshine.
Songning Shen, Sunshine’s co-chairman, said the technology has proved successful in an CNOOC Limited offshore project, and could prove feasible in developing and producing bitumen.