Solazyme, Versalis expand JV algae-based drilling fluid additive

Solazyme, Versalis to expand JV for algae-based drilling fluid additive

12:21 PM, 6th November 2014
Solazyme, Versalis to expand JV for algae-based drilling fluid additive

SOUTH SAN FRANCISCO, US: Solazyme, Inc, a renewable oil and bioproducts company, and Versalis, the chemical subsidiary of Eni S.p.A., one of the world’s largest oil and gas companies, announced a partnership to expand the commercial use of Encapso – the world’s first commercially-available, biodegradable encapsulated lubricant for drilling fluids.

Part of a leading oil and gas company and operating internationally with a dedicated distribution network, Versalis will expand market access and drive global sales for Encapso as a high-performance and sustainable drilling fluid additive. Versalis’ initial emphasis for Encapso will be oil and gas fields operated by its parent company Eni, which represent a significant amount of the world’s petroleum drilling activity. Encapso will be featured as part of the company’s recently launched Specialty Oilfield Chemicals product portfolio with target sales volumes exceeding 3,000 metric tonne of Encapso annually.

“As a leading chemical company with a demonstrated commitment to green chemistry and an emerging focus on specialty oilfield products, Versalis is extremely well-positioned to advance the use of Encapso globally to provide customers with a high-performance and sustainable drilling lubricant. Through this partnership, we look forward to working closely with Versalis to expand into new markets to help meet the growing demand for energy while reducing impacts on our environment,” said Jonathan Wolfson, CEO, Solazyme.

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