Middle East oil extraction seen as next big market for CSP

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By Robin Sayles

Low crude oil prices have driven oilfield operators to consider CSP enhanced oil recovery (EOR) as a way of reducing production costs, John O’Donnell, vice president of business development at GlassPoint Solar, told CSP Today.

Oil prices fluctuated between $28 and $42 per barrel in the first quarter of this year, a fraction of the 2008 peak price of $145.

Low oil market returns and higher dependency on gas supplies have led countries such as Oman and Kuwait to pursue CSP EOR projects, such as the giant 1.0 GW MWth Miraah plant being developed by Glasspoint.



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Image credit: Typhoonski

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Read more here:: http://social.csptoday.com/markets/middle-east-oil-extraction-seen-next-big-market-csp


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