Clean, Sustainable Energy and Social Responsibilities
Petroteq Energy Inc. is acutely aware of its corporate responsibilities for the preservation of the environment, protection of heritage and cultural landmarks, safe work environments, employee safety and respect for local residents. As the Company moves forward in the development of its oil sands properties, its commitment to producing clean energy will always play a major role in its interaction with outside groups. This includes consultation with the Utah government and respective environmental experts to create positive plans, to preserve a nature-friendly environment from which everyone will benefit today and to conserve it for future generations.
To meet this task, Petroteq has adopted its own action plan, termed the "Health, Safety & Environment Management System" with its environmental consulting firm, JBR Environmental Consultants of Utah. This plan includes all the elements discussed above, but also includes factors such as fire safety and emergency response procedures and preparedness protocols.
About JBR Environmental Consultants:
JBR Environmental Consultants, Inc. (JBR) is a full-service environmental consulting firm that works with industry and government clients throughout the West. Its professionals draw from years of experience in the mining industry to provide the scientific analysis, strategic planning, and final reporting its clients require. JBR Environmental Consultants, Inc. (JBR) was founded in 1985 in Salt Lake City, Utah. Its founding principals had extensive mining backgrounds, so many of their projects involve environmental work for mining projects in Utah and Nevada. Their focus is to create global solutions in ever changing environments. JBR stays on top of regulatory, environmental, and industry changes that affect both industry and agency clients. They help clients build solutions backed by sound science that will work today and will be long lasting. They are adept at promoting collaboration among often-conflicting opinions and concerns of private or agency clients, regulators, stakeholders and citizens to create optimal solutions.
Petroteq is keen on maximizing the efficiencies and enviro-friendly features of its oil extraction technology. One of the Company’s competitive advantages is that it uses no water during the extraction process, which allows it to leave absolutely no waste water or tailings ponds. It's a closed-loop system, which means that over 95% of the solvents used in the extraction process are recovered and recycled while roughly 5% remain within the oil that is extracted.
Another competitive advantage is that up to 99% of hydrocarbons are extracted, while the processed, clean sands (meeting EPA Tier 1 requirements) may be replaced back to their origin or sold. The Petroteq extraction plant has a very small environmental footprint, due to its comparatively small physical size. By developing new domestic energy sources through its concept of "American Oil for America," Petroteq will help to minimize America's potential need for foreign oil supplies.
Prior to any oil sands lease development project, Petroteq's Oil Sands Division will initiate a procedural policy which includes the appointment of additional geological and/or environmental consultants. These are usually local organizations with extensive knowledge of the area who will generate an environmental impact report examining any possible issue pertaining to geology, nature issues and cultural or heritage elements. These findings are summarized and issued to local and state governments for approval prior to the initiation of any lease development program.
PETROTEQ'S ENVIRONMENTALLY FRIENDLY TECHNOLOGY SEEMS TO FIT PERFECTLY WITH UTAH'S RESPONSIBLE RESOURCES DEVELOPMENT VISION.
Since the mid-1980s, oil companies big and small have been seeking to develop Utah's vast oil sands resources. Most have failed… and the Company has learned from these prior failures. The prior projects failed because of inappropriate technologies, requirements of water for processing or because of a lack of funding. And with the worldwide publicity of Alberta, Canada's oil sands’ environmental problems of water waste, tailings ponds and greenhouse gases, there's a natural tendency for most people to be skeptical about any development of the oil sands located in Utah.
It took Petroteq's technology team more than four years to develop an environmentally friendly oil sands extraction technology that didn't affect the environment and, at the same time, was commercially viable. Extensive research was also undertaken to develop a combination of solvents that could efficiently extract the oil from the sands. The system also had to adapt to the type of surface oil sands deposits. After several years of enhancing the system's components and processing systems, Petroteq's engineers finally succeeded and unveiled the first extraction plant of its kind in the world, on October 1, 2014, in Vernal Utah.
The Company's first plant has met or exceeded all of the environmental regulations set forward by the state of Utah, and Petroteq has received all permits required for the processing of oil sands ore at its site in Asphalt Ridge. There's no water needed, no fracking, no tailings ponds... and the cleaned sand can go right back where it came from. (See Technology for a full description.)
Petroteq believes that resource development does not have to be at odds with the environment... and that technologies must be developed so that both the mining process and the environment can safely co-exist. This approach is fully in line with Utah's Office of Energy Development, which focuses on providing leadership with a balanced development of Utah's abundant energy resources through public and private partnerships. This cooperation will result in prosperity throughout the state and a reliable, affordable energy supply. Utah’s Office of Energy Development, has set up the Energy & Geoscience Institute (EGI) and the Utah Institute For Clean & Secure Energy (ISOR). These organizations will work to improve the efficiencies of energy development technologies and will provide database research with public and private partnerships. The Company’s cooperation with the government and environmentalists, a public-private model, will bring a win-win prosperity to the state of Utah and the Company for years to come.