Cyber Enviro-Tech has signed a Memorandum of Understanding to acquire a Salt Water Disposal (SWD) facility in the Permian Basin of West Texas. CETI will collaborate with a long-established SWD and oil field operating company to restore this facility to full operational condition. The goal is to develop a Pilot SWD facility that not only manages water disposal but also showcases advanced technologies in desalinization, water remediation, and sludge contamination removal, converting waste into saleable oil. With CETI's biotechnology solutions, the Company's aim is to demonstrate its ability to safely repurpose wastewater for agricultural use or even restore it to potable drinking water quality for local communities. CETI expects to complete its due diligence and sign a definitive agreement by the third quarter of 2024, with production and revenue generation following soon thereafter.
During oil production, significantly more contaminated water is produced than oil. This wastewater, laden with hydrocarbons and industrial compounds, poses severe environmental risks. Currently, it is transported to saltwater disposal wells and injected deep underground. In 2020 alone, the state of Texas disposed of approximately 4.4 billion barrels of contaminated oil production wastewater through SWDs. The persistent drought conditions in Texas have underscored the critical need to optimize the use of limited water resources.
CETI's focus is to treat and repurpose a substantial amount of the water it receives from oil fields. Post-treatment, this water can be reused by oil companies, in agriculture, or even as drinking water where needed. Globally, agriculture consumes about 70% of freshwater resources, making CETI's water remediation capabilities particularly valuable to local communities and Industries.
"The potential of acquiring this West Texas SWD would mark a new chapter in our bioremediation enterprise as it allows us to showcase our unique, total waste solutions. By combining multidisciplinary innovations, we not only demonstrate environmentally sound practices but also the most effective and economical ones" said Kim D. Southworth, co-founder and CEO of Cyber Enviro-Tech, Inc.
