Oil technology provider Quadrise Fuels International (QFI) has signed a memorandum of agreement (MoA) with a European oil refiner.
QFI did not disclose the name of the oil refiner, which is part of an international integrated oil and gas company.
MSAR is low-viscosity oil in synthetic, water-emulsified heavy fuel oil and manufactured using proprietary technology.
Under the agreement, QFI and the refiner will collaboratively work to evaluate and develop a potential MSAR-based technology project at one of the refineries of the counterparty.
In a statement, QFI said: “The MoA includes the proof of concept and scoping phases, with subsequent phases once defined such as feasibility, application testing, trial and commercial implementation being covered by specific agreements, as required, in due course.”
QFI will proceed with testing certain refinery residue samples as provided as per the terms of the MoA. This work will be carried at Quadrise Research Facility, UK, during the third quarter of this year.
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By GlobalDataThe company said that the early-stage work on the residues received is already underway.
QFI executive chairman Mike Kirk said: “We are pleased to sign this MoA and we look forward to jointly developing the project to maturity and delivering on the substantial economic and environmental benefits that MSAR can provide.”
In June, QFI signed a services supply agreement with UK company Aleph Commodities to enable the use of MSAR technology in the Kingdom of Saudi Arabia (KSA).
