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CALGARY, Oct. 13, 2015 /CNW/ – On October 5th, Value Creation Inc. (“VCI”) launched the “stakeholder consultation” program for its proposed Clean Oil Refinery at its Heartland site (“CORe-H“), in the Alberta Industrial Heartland Region, NE of Edmonton, Alberta.
CORe-H has a uniquely simple process configuration (with 2 Hydroprocesses, besides standard auxiliary facilities), processing custom–designed crudes from VCI's Athabasca Regional Complex and Merchant Crude Customization Complex at Heartland (“MCC-H” an approved 260 kbpd complex). CORe-H would produce Premium Fuel Products, and Premium Medium Crudes that would fit most refineries in North America and globally, significantly broadening markets and debottlenecking logistics. Due to its simplicity and high margin, CORe-H will be very COMPETITIVE with major refining centers globally …. a MUST, if Government is to encourage TRUE Added Value in Alberta and Canada. CORe-H will have Best-In-Class environmental performance.
Recently, VCI has completed its acquisition of SilverWillow Energy Corporation, a step in its continued effort to consolidate resources, for rational and effective Regional Development. Such effort, together with VCI's approved projects and projects under amendment application, will form the launching platform for a Regional Clean Oil – Athabasca Complex (“RCO-A“), for the development of VCI (and partner) resources in Athabasca region.
Together with RCO-A, the Clean Oil Refinery completes VCI's transformational approach to Full Value Chain (“FVC”) Oil Sands Development, leveraging on its proprietary technologies, synergistic designs and strategic assets. When fully implemented, our FVC network will have “last-man-standing” economic robustness against oil price and differential volatilities, while out-performing announced GHG reduction targets of Alberta/Canada and USA.
In parallel, our approved MCC-H Complex, together with CORe-H, will provide “Value Chain Solutions” to Bitumen Producers south of Athabasca. Partnering with Producers would provide an Accelerated Path to Virtual FVC Oil Sands Development.
Dr. Columba Yeung, Chairman and CEO of Value Creation Group, observes, “The Honorable Premier has expressed the Visionary Mission to create added values in Alberta / Canada, with game-changing environmental performance. Coincidentally, it is totally consistent with the established Business Portfolio of Value Creation Group; and we will accomplish the Mission Impossible COMPETITIVELY, ECONOMICALLY and ENVIRONMENTALLY.“
On Sept. 28, VCI received the work permit for the site preparation this Winter, at its Tristar site, in Athabasca. This would advance a group of well pairs, to Optimize Reservoir Productivity, ahead of our commercial project execution. It would also provide field demonstration of our proprietary technologies that can uniquely upgrade bitumen emulsion or bitumen froth directly, to produce Clean Oils that enable step-changes in cost effectiveness and energy / GHG reductions in Extraction, Transportation and Upgrading/Refining, transforming the Full Value Chain of Oil Sands Development.
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SOURCE Value Creation Inc.