Diversa to Collaborate with BITeomics on the Development of the Chinese Oil and Gas Market for New Enzyme-Based Technologies

29-Apr-2005

Diversa Corporation announced that it is collaborating with BITeomics, a Dalian-based biotechnology company, to identify and assess opportunities for Diversa's novel enzyme products within the Chinese oil and gas industry. One of the potential opportunities being explored by the two companies is the utilization of Diversa's heat tolerant Pyrolase(TM) enzymes for hydraulic fracturing of oil and gas wells.

Given tight energy supplies and increasing world-wide demand, well fracturing has become an important technology for increased recovery of oil and gas. Once formations are fractured, controlled breaking of the fluid within the well is necessary to maximize the recovery of the trapped oil or gas. Environmentally friendly enzyme breakers can significantly increase the yield from many types of oil and gas wells. Less efficient chemical breakers are predominantly used in current Chinese oil and gas production. Diversa's Pyrolase(TM) enzymes have broad activity profiles and have demonstrated exceptional commercial performance at high temperature and in highly alkaline conditions. Accordingly, Pyrolase(TM) enzymes are particularly well suited for use in many types of oil and gas wells found in China.

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