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BEIJING, Oct. 31, 2017 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON), ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, today announced it held a seminar in its office on October 29, 2017 to communicate with investors, technicians from peer companies and oilfield clients based in Kazakhstan and demonstrate the Company's biological activator for oilfield reinjection water treatment, which is under application for an invention patent.
The invention provides an oil field backwater treatment material and a method, mainly comprising nitrate, nitrite, molybdate, imidazoline, corrosion inhibitor and denitrifying bacteria, mixed with liquid with low concentration of nitrate mixture to effectively replace sulfate as electron acceptor and reduce naturally occurring bacteria (Nitrate Reducing Bacteria, or NRB, resulting in the suppression and eventually replacement of the technique by Sulfate Reducing Bacteria, or SRB. The invention patent application was submitted by one of the company's subsidiaries in February 2017, was published in June 2017 and is subject to final approval of China's patent office.
"Reinjection water generated annually during the production processes of Chinese oil wells exceed a billion cubic meters, and we see the market potential for related agents and treatments at more than a hundred billion Chinese Yuan per year," said Mr. Chen Guangqiang, director and CTO of the Company. "Recon developed these effective bio-stimulants based on a host of onsite testing and first-hand data and continuous communication with oil companies. Recon is China's first company to apply for a patent of this kind of bio-stimulant. As a complexing agent, our products and related resolution introduce a small amount of biological activator to activate indigenous microbial blooms in the reservoir, to control and reduce sulfur inhibition corrosion, improve the recovery of crude oil, thereby reducing the pollution load. One of our products' greatest strengths is low cost with no secondary pollution. As a result, our clients use these products in their projects in the Qinghai oilfields, Chongqing gas wells and oilfields in Kazakhstan."
"We're pleased to have this opportunity to communicate with different groups to share our experience and knowledge with other stakeholders in the industry. As a high-tech company, Recon has been investing in its research and development activities and made several breakthroughs in oilfield sewage treatment. We will continue to maintain our technology investment at a higher level and welcome more companies to explore the markets of oilfield environmental protection."
About Recon Technology, Ltd. (NASDAQ: RCON)
Recon Technology, Ltd. is China's first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China's largest oil exploration companies, Sinopec (NYSE: SNP) and CNPC, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for icreasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions on several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major clients, and its products and service are also well accepted by clients. For additional information please visit: www.recon.cn.
Liu Jia, CFO
Recon Technology, Ltd.
+86 (10) 8494-5799
SOURCE Recon Technology, Ltd.