Glori Energy Signs Contract with Brazil’s Petrobras

Contract Marks Glori’s First Expansion into Brazil

HOUSTON--()--Glori Energy, a leader in sustainable, enhanced oil recovery utilizing its AEROTM (Activated Environment for Recovery of Oil) System, today announced the signing of a field implementation contract with Brazil’s Petrobras. Under the agreement, Glori Energy will deploy its AEROTM System into an existing Petrobras onshore waterflood project in Brazil. After the completion of initial work at Glori’s Houston, TX laboratory, Glori’s team will work with Petrobras to implement the AEROTM System in the field.

“Having seen the results generated by Glori Energy in field projects in the United States, we are encouraged to demonstrate the effectiveness and commercial viability of Glori’s technology to Petrobras. As a global leader in implementing new technologies, we are excited to further evaluate Glori Energy’s AERO System,“ said Ricardo Portella, Advanced Recovery Program Manager of Petrobras.

“South America represents an important source for the world’s future oil supply. We are very excited to have the opportunity to implement Glori’s AERO System to make an impact in Brazil. We are honored to be working with Petrobras, one of the world’s leading energy companies,” said Stuart Page, CEO of Glori Energy.“

About Petrobras

Petróleo Brasileiro or Petrobras is a publicly traded corporation, the majority stockholder of which is the Government of Brazil. It is a multinational energy corporation operating in 28 countries with headquarters in Rio de Janeiro, Brazil. Petrobras is the third largest energy company in the world and is the eighth largest company in the world ranked by market capitalization.

About Glori Energy

Glori Energy’s mission is to sustainably and efficiently recover billions of barrels of oil trapped in reservoirs using existing oil wells. Glori partners with oil producers to significantly increase their oil production through the deployment of its AEROTM (Activated Environment for Recovery of Oil) System. The System makes use of existing non-potable water sources, optimizing the water quality to activate and sustain the indigenous reservoir microbial life with the desired metabolic activities. The AERO™ System provides a new, viable option to recover previously trapped oil with minimal new footprint or investment. For more information visit: http://www.GloriEnergy.com.

Contacts

Glori Energy Media Contact:
BIGfish PR
Meredith Frazier, 617-713-3800
glori@bigfishmarket.com

Release Summary

Glori Energy today announced the signing of a field implementation contract with Brazil’s Petrobras to deploy its AERO System into an existing Petrobras onshore waterflood project in Brazil.

Contacts

Glori Energy Media Contact:
BIGfish PR
Meredith Frazier, 617-713-3800
glori@bigfishmarket.com