LiqTech ties up oil & gas agreement with FMC
Denmark's LiqTech International Inc announced on 25 March 2013 that it had entered into an agreement with US oilfield equipment and services company FMC Technologies Inc for the use of LiqTech's silicon-carbide membrane technology for oil & gas applications.The exclusive agreement will bring LiqTech International's membrane technology into the highly attractive unconventional shale oil & gas sector and will allow for the development of new water treatment systems. The agreement includes a multi-year, multi-million dollar commitment towards LiqTech technology in order for FMC Technologies to maintain exclusivity.
The hydraulic fracturing process involves injecting large amounts of water and sand into a well to increase the cracks in dense formations, thereby enhancing flow characteristics. Following the process, a significant amount of water returns to the surface and must be treated or injected into deep underground disposal wells.
LiqTech's silicon carbide membrane, and its greatly enhanced filtration capabilities, is a potential enabling technology for the treatment and reuse of this produced water.
Lasse Andreassen, LiqTech's CEO, stated, "This agreement is a major breakthrough for LiqTech and is the validation of our technology that we have been working on for the last six years. We have more than one hundred customers that use our membranes, but FMC Technologies will bring LiqTech a very important platform in the attractive unconventional shale oil & gas area."
"FMC Technologies has studied and tested LiqTech's Silicon Carbide Membrane Technology and found it well suited for the further development of our product and service offerings in unconventional shale oil & gas," said Johan Pfeiffer, FMC Technologies' vice president, surface technologies. "We chose LiqTech as our partner because its product has great promise and its organization can meet the high quality standards that FMC Technologies requires."