Ivanhoe Energy upgrades heavy oil from its Pungarayacu field

Ivanhoe Energy (TSX:IE) reports that heavy crude oil extracted from IP-5B well in the Pungarayacu field in Ecuador has been upgraded.

The press release is quoted as saying:

The successful tests demonstrate the flexibility and robustness of the HTL upgrading process to convert diverse heavy crude feedstocks into more valuable and marketable, pipeline-ready synthetic crude oil. In addition, these tests help position Ivanhoe Energy for full-scale heavy oil operations in Ecuador and in other countries having similar heavy oil characteristics.

Click here to access the entire press release