THE IMPORTANCE OF TRU
HOW DOES TRU WORK?
The TRU process takes heavy oil/bitumen feed-stock through a 'non-coking' cracker and a distillation unit. The output of this first step is the distillables (naphtha, distillate and gas oil), a distillation residue and overhead gas that can be used as process fuel. The distillation residue is sent to a deasphalter and the outputs are deasphalter oil (DAO), and asphaltene pitch - a blend material for asphalt. The deasphalter oil is combined with the distillables to produce a sour synthetic crude oil.
HOW WAS TRU DEVELOPED?
Rival has spent millions developing the TRU process since 2005, working with an additive used in the mid-1980s to reduce the viscosity of heavy crude oil. We achieved excellent results on Lloydminster heavy oil and have since successfully processed Athabasca bitumen. The key to the process is non-coking cracking of the whole bitumen as a first step without external hydrogen addition. No other system achieves non-coking cracking of bitumen. Our synthetic crude has an API and sulphur content that is similar to dilbit, but has a much higher gas oil content and greatly reduced nickel and vanadium, lower TAN, and ultra-low coke (toluene insolubles). We believe it will sell at a premium to dilbit (our calculation is a 5% premium but it may be more). All of the laboratory work has been performed by the Alberta Research Council and is available if a Non-Disclosure Agreement is signed.
HOW WILL RIVAL BENEFIT?
Rival will license the TRU process to pipeline and oil companies worldwide, in return for license fees and royalties levied on each barrel of production. We estimate the value of the Rival process at approximately $10.00 per barrel, making it extremely profitable for both producers and Rival. Rival will also build smaller field level upgraders for newer SAGD producers, enhancing the value of their oil and making the product immediately pipeline ready. Both the market potential and the return on capital for Rival is enormous, with millions of barrels per year currently in production and more being brought on each year.