PDO to Pilot Eden’s Novel Electrical Reservoir Stimulation™ Technology

Rhea-AI Summary

Petroleum Development Oman has contracted with Eden GeoPower Inc. to implement their innovative Electrical Reservoir Stimulation™ technology in a pilot project, marking a significant milestone in sustainable resource extraction. This method promises to save billions of gallons of water compared to conventional hydraulic fracking. The project aims to reduce CO₂ emissions and create new jobs within the local market. If successful, Eden plans to commercialize this technology across various industries, contributing to net-zero goals.

Positive

• Contract signed with PDO for innovative reservoir stimulation technology.
• Technology aims to save billions of gallons of water and lower CO2 footprint.
• Project expected to create new jobs locally during the stimulation period.
• Potential for commercialization across various sectors if pilot is successful.

Negative

• None.

Eden’s Electrical Reservoir Stimulation™ technology can save billions of gallons of water compared to conventional hydraulic fracking methods

SOMERVILLE, Mass.--(BUSINESS WIRE)-- Petroleum Development Oman (“PDO”) recently contracted with Eden GeoPower Inc. (“Eden”), a Massachusetts-based geotechnical firm, for the use of their Electrical Reservoir Stimulation™ technology. The Oman-based pilot project includes multiple wells and will be the first project to ever utilize electrical current to stimulate the reservoir. Shaleem Petroleum Company (“Shaleem”), a leading Omani-owned Community Contracting Company, will service the project with Eden.

“We are pleased to move forward with Eden’s reservoir simulation technology to contribute to the advancement of a clean and sustainable solution that should enable the extraction of subsurface resources economically and innovatively while lowering the CO₂ footprint of the operation and minimizing environmental impacts,” says Majid Mahrooqi, Corporate Planning Manager at PDO.

The pilot project is set to break ground later this year. Furthermore, the partnership with Eden may enable the growth of a whole ecosystem around the new sustainable and clean technology, accelerating the trajectory toward net-zero goals, and creating a new class of jobs in the local market. Short term, it will support the immediate creation of new jobs during the stimulation period projected to take place this year.

“Petroleum Development Oman puts great effort into sustainable and efficient practices. We are excited to apply our reservoir stimulation technology to help further those initiatives,” says Ammar Alali, the President and Co-founder of Eden. “We aim to support grid reliability as we collectively shift to more sustainable energy consumption, and our partnership with PDO reflects that.”

“Piloting our technology later this year is a huge milestone for our company and the global shift to a net-zero economy,” says Paris Smalls, CEO and co-founder of Eden. “Once our technology is successfully piloted, we will commercialize across a spectrum of industries that require subsurface permeability enhancement. This includes increasing the fracture network in Enhanced Geothermal Systems reservoirs, increasing the reactive surface area for in-situ mining, and opening up new fluid flow pathways to maximize CO₂ injectivity during geologic sequestration.”

ABOUT PETROLEUM DEVELOPMENT OMAN

Petroleum Development Oman (PDO) is the leading exploration and production company in the Sultanate of Oman. It delivers the majority of the country’s crude oil production and natural gas supply for Oman. The company is owned by the Government of Oman (with a 60% interest), Royal Dutch Shell (34%), Total (4%), and Partex (2%). The first economic oil find was made in 1962, and the first oil consignment was exported in 1967. Learn more at pdo.co.om/en

ABOUT EDEN

Eden GeoPower Inc. (“Eden”) is developing a novel Electrical Reservoir Stimulation™ technology to increase subsurface permeability with minimal environmental impact. Market applications include geothermal heat recovery, increased fracture volume for in-situ mining, increased CO₂ injectivity during sequestration, and other subsurface permeability enhancement applications. Eden is headquartered at Greentown Labs in Somerville, MA, the largest clean technology incubator in North America. Eden has received more than $7 M in financial support since the company’s founding in 2017 from Good Growth Capital, Ameren, NSF-SBIR, and ARPA-E. For more information, visit www.edengeopower.com.

ABOUT SHALEEM PETROLEUM COMPANY

Shaleem Petroleum Company is an ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 certified Oil& Gas Company providing Well Maintenance and Work Over Services, Supply and Operation of Frac Tank Services, and Supply and Operation of Packer Services. Learn more at www.shaleem.co

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005876/en/

EDEN MEDIA CONTACT

Amal AlAhmed

amal@edengeopower.com

Source: Eden GeoPower Inc.

FAQ

What is the purpose of Eden's Electrical Reservoir Stimulation technology?

Eden's Electrical Reservoir Stimulation technology is designed to stimulate oil reservoirs using electrical currents, which aims to reduce water usage and CO2 emissions compared to traditional fracking methods.

When will the pilot project by PDO and Eden GeoPower begin?

The pilot project is expected to break ground later this year.

What are the anticipated benefits of the PDO and Eden partnership?

The partnership aims to enhance sustainable extraction methods, create local jobs, and contribute to net-zero goals.

Which companies are involved in the project in Oman?

The project involves Petroleum Development Oman and Eden GeoPower Inc., with support from Shaleem Petroleum Company.

What impact does Eden's technology have on environmental sustainability?

Eden's technology is expected to lower the environmental impact of resource extraction by reducing water usage and CO2 emissions.