The oil and gas extraction company has developed a technology for the extraction of heavy oil.
This new technology is an oil extraction method that increases the production of shale and heavy oil formations over traditional extraction methods and is less harmful to the environment.
Empire Oil Refineries president and CEO Arshad Shah said the LOI between Empire and Parker fits into the company’s strategic plan to acquire assets in the oil and gas industry.
"With the addition of Parker we can continue to develop new ways to extract energy more effectively, efficiently and eco-friendly while helping to reduce energy extraction costs," Shah said.
