China University of Petroleum, Beijing, China

China University of Petroleum

Changping, Beijing, China

State Key Laboratory of Heavy Oil Processing, China University of Petroleum (重质油国家重点实验室,中国石油大学), Beijing, together with Beijing Petrochemical Design Institute (BPDI – 北京石油化工设计院), both were jointly commissioned by the Company to research and develop new extraction techniques, in August 2006 have succeeded in the development of a new extraction technique.

The new extraction technique is expected to increase extraction speed by approximately 50% in comparison with the original extraction technique proposed by the Joint Venture Company. Under the new extraction technique, the time required to extract raw materials at the Buton Bitumen Mine will be shortened and the amount of energy (electricity and heat) to be consumed can also be reduced.

Furthermore, with the new extraction technique, the size of the extraction machine will also be reduced, thus overall production costs can also be expected to be reduced.

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