Perseus, Greyrock to monetize Mexico flare gas
Compañia Petrolera Perseus S.A. de C.V. (Perseus), an independent Mexican oil and gas exploration and production company, and Greyrock Energy Inc., a leader in small scale gas-to-liquids (acting through its subsidiary Greyrock Equity Partners LLC), are collaborating to provide solutions for the flaring of natural gas in Mexico using Greyrock's Flare-to-Fuels systems.
Flare gas is produced during the production of crude oil and is often flared (or burned) due to lack of pipeline and processing infrastructure. Flare gas produces CO2, NOx, black carbon and other pollutants. Improperly operated flares can also vent substantial amounts of methane, a greenhouse gas that is, according the US Environmental Protection Agency (EPA), 25 times more potent than CO2.
Earlier this year, Greyrock announced its Flare-to-Fuels system for the reduction or elimination of routine gas flaring. Using Greyrock's Direct Fuel Production technology, Flare-to-Fuels systems are designed to convert flare or vented gas into clean transportation fuels.
Perseus was founded in 2015 to pursue oil and gas exploration and production and to perform other related energy businesses primarily in Mexico.
The World Bank estimates that approximately 140 Bcm (~5 Tcf) of natural gas is flared annually, resulting in the emission of more than 300 MMt of CO2 to the atmosphere. If this same amount of flared gas was converted to clean fuel, it would result in the production of more than 18 B gal/yr. Mexico is one of the top 20 flare gas volume countries in the world.
Comments