Oil success

Perth-based hydrocarbon explorer Anzoil NL has developed a joint venture with Success Oil Company to market and apply new technology to enhance oil production, especially on depleted fields.

According to Anzoil chairman Jaap Poll, field trials of the new enhanced oil recovery technology increased oil production by as much as 25 per cent.

The JV has set up a new company to apply the vibroseismic excitation technology on selected large depletion oil fields.

This system is new by Western standards and a highly effective low-cost approach to EOR, which was developed in Russia.