Prime Nordic has made investment into Maha Energy AB. Maha Energy AB is a Sweden-based company involved in the oil and gas industry. Their primary focus is to implement the cutting edge Enhanced Oil Recovery (EOR) technologies to existing and maturing oil fields. By some estimates (Resources International (2008) – and excluding Gulf of Mexico fields) there is approximately 400 billion barrels of recoverable oil ‘stranded’ in oil fields that have undergone primary and secondary oil recovery.
Thermal recovery methods are based on adding heat to the oil, mainly to decrease its viscosity. In this way, the mobility ratio between oil and the displacing fluids become more favourable. The most common thermal methods are steam flooding and steam cycling. These techniques experienced enormous development in the past few decades and have grown to be the largest contributor to oil output by EOR.
Maha are therefore able to extract from oil fields that may otherwise be considered redundant.
With a strong shareholder base comprising of, amongst others, Nordnet Pension, BNY Mellon & UBS Switzerland, Prime Nordic believes that an investment into Maha Energy presents a strong steady growth opportunity whilst contributing to a green and ethical solution to energy recovery technologies.
Maha trades on Nasdaq First North, ticker MAHA_A