Vivakor, Inc. (Vivakor) has announced that it has engaged the Kingdom of Saudi Arabia (KSA) through its national oil company, ARAMCO, in a Memorandum of Understanding (MoU) for remediation and reclamation services. The understanding is that Vivakor and its joint venture partner RRT (VIVARRT) will provide oil cleanup in various areas throughout the country.
Aramco currently produces 10 million bpd of oil, and as a matter of course in their daily operations inadvertently spills oil. They have three designated oil waste disposal sites throughout the country and VIVARRT will work directly with long standing in-country agents in the cleanup. The primary agent AL KALTHOMI General Contracting (KGC) is a leading general contractor based in Dammam, Saudi Arabia. Established in 2003 as part of KEW – a major conglomerate in the environmental and waste management segment, KGC and its affiliate has successfully completed numerous large and medium scale turnkey projects for many prominent clients in different sectors which include Aramco, SECO, Sabic, and others.
Vivakor, procures and develops revenue producing assets around the world. These holdings include intellectual properties that are proprietary and largely disruptive while centred principally in the natural resources sector. Vivakor is essentially an asset acquisition company focused specifically on energy related projects across the globe, its patented, oil extraction technology and methodology is now operating in a production capacity in Utah. Vivakor offers investors a unique opportunity to participate in a very attractive royalty program for its investors that is based on production and sales of its oil.
The company has also been working on a number of other initiatives including enhanced oil recovery projects throughout the globe utilising acoustics. Unique to the company is a mobile rapid deployment, global capability for remediation and reclamation of contaminated soil created due to oil spills. The company has successfully cleaned soil and recovered oil for some of the largest oil operators in the world.
Additionally, the company utilises a thermal-based technology for extraction of primarily precious metals from sand based ore. Since 2013, effectively capturing non-visible precious metals and rare earth minerals through a proprietary technology and method for processing sand-based ore material from one of their many claim sites in the US.
Read the article online at: https://www.hydrocarbonengineering.com/the-environment/16122016/vivakor-enters-mou/