Qyrin Petroleum Executes CSPA

Friday 5th June 2015: Qyrin Petroleum Technology finalises and executes a Conditional Sales and Purchase Agreement with regards to the proposed acquisition of an EOR Joint Operation Contract (JOC/KSO) in Indonesia. The CSPA was signed post completion of technical appraisal and site due diligence by Qyrin’s in-house subsurface and E&P technical team. The management is finalising its 10-year production and development plan for the asset and expects to commence implementation in the 3rd quarter of 2015. Qyrin anticipates deployment and application of its proprietary EOR technologies and techniques to optimise production at the oilfield.

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EOR Technologies and Solutions

1) Design and customization of marine and continental oilfield water flooding project; water quality reliability system optimization; customization, reconstruction and repair of water injection well pattern
2) Stable production and yield integrated technology in mid and end-of-life (EOL) oilfields
3) Search, evaluation and development of remaining oil (including the marginal oil) in mid and EOL oilfields
4) Integrated technology of extending the development life of oilfield (including the unique trace elements and microbial technology)
5) Integrated technology of developing cluster wells, horizontal wells (including the old production platform sidetracking wells) and multilateral wells of marine and continental oilfield production platform economically
6) Unique logging integrated technology of production dynamic monitoring in each stage of oilfield development
7) Appraisal of all types and stages of oilfield being developed, fine description of development geology, comprehensive evaluation research, enhanced potential and risk assessment

Contact Information

Email:info@http://qyrinpetroleum.com
Web:www.qyrinpetroleum.com

Beijing, China Office：
5th Floor, Jinlan Building B Block, No. 2 North Loop Road, Changping, Beijing, China.

Seattle, Washington Office：
15149 SE 48th Drive Bellevue, Washington 98006, USA.