WILLEMSTAD - The Eastern Petroleum Group, based in Curacao's E Zone Dok under the control of CDM Holding, has recently entered into a significant agreement with the United Group of Alexandria, Egypt. The agreement entails the supply of Eastern Petroleum's innovative BituDrum Technology System to support the provision of bitumen to various countries in North Africa, with a particular focus on Libya. The war-torn nation is currently undertaking an extensive infrastructure repair program to address the damage caused by past conflicts.
Over the course of the first year, Eastern Petroleum commits to supplying a minimum of ten BituDrum systems, carrying a value exceeding $3 million. Furthermore, Eastern Petroleum will provide their unique polymers, primarily sourced from recycled materials, for the manufacturing of the drums. This additional offering is expected to generate a growing revenue stream with the commissioning of each new system.
Gordon Thomas, the CEO of the Eastern Petroleum Group, expressed his gratitude to Getmar Caldera, the director of CDM, for the invaluable support provided during the challenging development phase of the BituDrum Technology System.
In addition to this groundbreaking endeavor, Eastern Petroleum is actively involved in the development of an environmentally friendly method for extracting bitumen from Asphalt lakes. This innovative process will be powered by a floating solar farm. Eastern Petroleum intends to test this technology on the Curacao Asphalt lake, pending permission, with the ultimate goal of selling the solution to Venezuela for their ambitious Guanaco lake project, which aims to extract bitumen from a vast reserve estimated at 6 million metric tons.
