Mergermarket feature Pharis Energy

Pharis Energy’s project financing initiatives have been featured in Mergermarket, specialist M&A publication with a global network of 300 dedicated M&A journalists and analysts who talk with CEOs, CFOs and industry contacts, reporting what they learn to Mergermarket subscribers.

The article is titled “Pharis Energy weighs 2019 IPO among field funding options”

  • Farmout and private capital injection also on the cards

  • Up to GBP 400m follow-on financing to first oil

  • Pilot field NPV of over USD 600m using steam flood development

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Downhole Steam Injection Valve Takes the Next Step Towards North Sea Reality

Pharis Energy and OGTC have given the green light to Aberdeen-based oil and gas production technology business, Pragma Well Technology, to progress with manufacture and prototype testing of their Downhole Steam Injection Valve (DSIV) following a positive feasibility study.

Using advanced materials, detailed fluid design and innovative engineering features to maximise reliability for extreme downhole conditions, the surface controlled DSIV will be the first steam injection valve available on the market to meet UK safety regulations. It will be rated to withstand the extreme downhole conditions required for continuous high-pressure steam injection, and will operate at temperatures of up to 343 degrees Celsius.

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FluidOil & Steam Oil Cooperation Agreement

The Steam Oil Production Company (“Steam Oil”) is pleased to announce that it has entered into a cooperation agreement with FluidOil, the independent international heavy oil technology company, to explore the potential of integrating FluidOil’s Viscositor Heavy-to-Light (“VHTL”) oil upgrading technology into an offshore steam flooding project.

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29th UKCS Seaward Licensing Round

On the 23rd of March 2017 the Oil and Gas Authority announced the results of the 29th Seaward Licensing Round. The Steam Oil Production Company had applied for four part blocks surrounding the Pilot field. We were delighted to learn that we are to be offered all the blocks we applied for and look forward to working with OGA and industry partners to progress a steam flood demonstration project on the Pilot field.

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Presentation at "Finding & Exploiting New Petroleum Resources in Europe"

Finding Petroleum are hosting a conference on Finding & Exploiting new petroleum resources in Europe at the Geological Society in London on the 10th March. We are happy to be presenting our views on heavy oil development in the North Sea and the Western Platform Steamflood project at the meeting. The tag line for our talk is "Twice the oil in half the time". 

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Steam Oil Presentation at DEVEX 2015

Steve Brown, CEO of The Steam Oil Production Company Ltd, presented the company's evaluation of the feasibility of implementing Europe's first offshore steam flood on the Pilot field at the DEVEX 2015 conference in Aberdeen in the closing session on the 21st May 2105. The presentation addressed head on the conventional wisdom that offshore steam flooding is not feasible due to excessive heat losses, and went on to show the potential for an incremental two billion bbls of recoverable oil from already discovered fields on the UKCS

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The Steam Oil Production Company Ltd launches its website.

We formed this company to participate in the 28th Licensing round and we were delighted to be offered the block we applied for. But we are only just beginning our story, and we felt that we should start with a website, so that our potential partners, suppliers and contractors can learn more about us and indeed tell their friends and colleagues about The Steam Oil Production Company Ltd.

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28th UKCS Seaward Licensing Round

On the 6th of November the UK Government announced the results of the 28th Seaward Licensing Round. The Steam Oil Production Company had applied for two blocks 21/27a and 28/2a. We were delighted to learn that we are to be offered these blocks and look forward to working with DECC and industry partners to create a viable development plan for the Pilot and Harbour discoveries.

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