Reactwell continues EMOPP development, pilot and test in 2016
The Electro Magnetic Oil Pipe Plugger’s (EMOPP) main purpose is to plug leaking oil & gas pipes above ground, in the ground, or underwater immediately upon detection. EMOPP minimizes economic losses associated with oil leakage into bodies of water, mitigation of environmental impacts on aquatic life, coastlines, regional zones, and destruction of industries that depend on an environmentally sound aquatic ecosystem (i.e. fishing and tourism). The time lag associated with an oil & gas well blowing out, flowing into the ocean, and final capping catalyzed by the drilling of relief wells costs oil companies, government, and local industry hundreds of millions of dollars. The costs include lost opportunity and increased insurance premiums and environmental damage to name a few. For example a 15,000 bpd oil well leak in the Gulf of Mexico when crude oil is trading at WTI $70 / bbl results in a daily economic loss of $1,000,000 not counting environmental impact, mobilized manpower, and associated lawsuits.
An extreme oil leak case in the Gulf of Mexico that occurred in the 1970’s known as the Ixtoc I Pemex Oil Spill resulted in 3,000,000 million barrels of crude oil released into the Gulf. The Ixtoc incident occurred on June 3rd 1979 and lasted for 294 days spewing a total of 3,000,000 million barrels of oil into the Gulf of Mexico at an average release rate of 10,204 bpd. The economic loss solely attributed to depleted reserves from the Ixtoc I Oil Spill today would represent a whopping $210,000,000 million dollars excluding mobilized manpower, environmental impact, and associated lawsuits.
EMOPP’s patent pending technology shortens the oil & gas well shut-in time period from months to hours. Oil & gas companies, venture capital firms, private equity firms, oil consortiums and governments that strategically partner with EMOPP research and development at Reactwell will be the frontrunners in developing the world’s first quick acting / rapid deployable oil & gas well plugger. Minimizing the time an oil & gas well leak occurs by using EMOPP is a win-win for the oil & gas companies, governments, and environmental activists. EMOPP does not exclude traditional oil & gas field service well-kill operations, but enhances their effectiveness by adding a new tool to the toolbox, thus providing a mobile rapidly deployable oil & gas leak solution in combination with traditional tried and proven oil & gas field service technology.
Project Site www.emopp.com
Brandon J. Iglesias. “What went wrong at the site of the BP oil spill and what needs to change.” Princeton University Business Today (BT) Spring 2011, Pages 38-40. Print.