• Companies to collaborate on oil, water and natural gas related projects
CALGARY, Alberta, Canada, Nov. 27, 2007 -- Genoil Inc. announced today that they have executed a Joint Operating Agreement with Aquamation Inc. to collaborate in industrial water treatment projects & process plant projects for clients in the oil and gas and petrochemical industries.
Under the Joint Operating Agreement, Genoil and Aquamation will jointly market and further develop and integrate their oil and water separation technologies. Additionally, Genoil and Aquamation will share revenues and profits for these projects.
Genoil Chief Operating Officer, James Runyan, said, "We are extremely excited about this integrated relationship. This is a strategic move designed to create significant global business opportunities in the oil & gas and petrochemical markets. We believe Aquamation's world class industrial water treatment solutions not only complement Genoil's oil and water separation products, but will help drive future growth and revenues."
Aquamation Chief Operating Officer, Anthony Lewis said, "We are very pleased to partner with Genoil. This strategic alliance leverages engineering solutions from both companies that are complimentary. Further, Aquamation can now consider requests from our clients to support larger projects and be confident that our combined resources and expertise will ensure success."
Aquamation Inc. was founded in 1998 and is a global supplier of industrial water treatment solutions and process plants to the petrochemical and oil & gas industries. Aquamation has provided industrial water treatment equipment and process plants to major customers including international and national oil companies operating in Indonesia, Malaysia, Saudi Arabia, China, Taiwan, Nigeria and the United States.
Genoil is an international engineering technology development company based in Alberta, Canada that develops innovative hydrocarbon, oil and water separation and marine technologies for the oil and gas and commercial marine industries.