Corporate Profile
Our objective is to create shareholder value by sourcing, negotiating and developing heavy-oil opportunities as well as other oil and gas projects. Our heavy-oil competitive advantage includes the application of our proprietary HTL heavy-oil upgrading process, as well as other state-of-the-art heavy-oil extraction techniques. Our management team has decades of experience in the negotiation, development and production of heavy-oil and other oil and gas operations in the U.S., Canada, South America, China, Southeast Asia, the Middle East and North Africa.Ivanhoe Energy Inc. is the listed parent company of the group and is responsible for Canadian and U.S. operations. In addition, it includes the HTL technology group, based in Houston, Texas. Operations outside the U.S. and Canada are carried out through subsidiary companies: Latin American projects through Ivanhoe Energy Latin America Inc., China and Southeast Asia projects through Sunwing Energy Ltd., and projects in the Middle East and North Africa through Ivanhoe Energy MENA Inc.
Our two initial HTL heavy-oil projects are Tamarack in Canada and Pungarayacu in Ecuador. In mid-2008, Ivanhoe Energy Inc. acquired a significant heavy-oil block in Canada's Athabasca region from Talisman Energy. In October 2008, Ivanhoe Energy Ecuador Inc. signed an agreement to develop Ecuador's Block 20, including the Pungarayacu oil field. Block 20 is a major, 426-square-mile heavy-oil block located approximately 200 kilometers southeast of Quito, Ecuador. Additional heavy-oil projects around the world are being pursued based on the application of our proprietary HTL process.
Ivanhoe Energy's HTL (Heavy-to-Light) upgrading technology is a small minimum-scale upgrading process that can be located in the oil field, fully integrated with upstream operations
These heavy-oil projects complement the conventional oil and gas activities that take place in China under Sunwing Energy, including the production of oil in Dagang, Hebei Province and gas exploration in Zitong, Sichuan Province.
Ivanhoe Energy's new-generation, state-of-the-art Feedstock Test Facility in San Antonio, Texas
The Tamarack Project, located in the heart of the Athabasca region of Western Canada, contains a best estimate contingent resource of 441 million barrels of recoverable oil
The Pungarayacu Project, located in the prolific oil zone just east of the Andes Mountains in central Ecuador, covers an area of over 400 square miles and incorporates the well known Pungarayacu oil field
Zitong, a gas exploration opportunity that encompasses a block of over 700,000 acres,is located in the well known gas producing province of Sichuan in Central China
