Technology that makes operations safer as well as more efficient is a focus for AAPG’s U-Pitch pitch event to take place at URTeC, July 23-25 in Houston. Welcome to an interview with Paul Gibbs, developer and creator of the Freedom Tank Technology Tool which is designed to make oil and gas storage much safer.
What is your name and your background?
Paul Gibbs has 38 years of oil and gas experience ranging from exploration and production to refinery experience. All this experience has helped in the development and creation of the Freedom Tank Technology tool. Paul holds numerous patents with the original beginning in 1990 when the tool was first developed and tested.
What is your area of expertise?
Enhanced vapor recovery, tank fire prevention, and tank fire extinguishing.
What are some of the most challenging issues in oil and gas operations today?
I believe that the awareness of the environmental issues. More people are becoming aware of the impact of hydro carbons on our environment and we need to take a more serious approach to how we store hydrocarbons.
How can your new approach provide a solution?
The Freedom Tank Technology Tool solves numerous issues with one device. We solve the emissions issue, we detect and extinguish tank fires in seconds. We prevent tank fires and can also solve many issues with liquid movement and with hydrocarbon storage. All this with one tool saving money and make the producer more money with ROI on gas.
What does your solution do?
The Freedom Tank Tool captures the full spectrum of gas emissions from the tanks. The gains accomplished will create a larger net revenue for the operator/producer. We are able to alleviate RVP/Reid Vapor Pressure issues. We are able to solve many O2 issues. The Freedom tool can change the atmosphere of the tank from flammable to inert. We detect and extinguish tanks fires rapidly. The Freedom Tank Tool can sell “bad” oil and treat bad oil correctly.
Where has it been used and how did it work out?
It has been used in oil production. The producer saw a net gain of 18% in volume of gas pumped and in richness of Btu’s. This tank battery now passes LDAR inspection.
The Freedom Tank Tool has also been used in SWD tanks keeping tanks purged with gas and recovering 12 to 17 barrels of oil a day. This oil would have otherwise been lost.
This tool has been tested by state agencies and it also has been tested by a 3rd party research engineering firm.
Where do you see the most opportunity for the future?
Oil production would be the obvious area in which the tool could be most beneficial. There are other areas that would also benefit from the tool such as refining, chemical plants and gas processing plants. Anywhere there is fuel storage the Freedom Tank Tool would be needed such as military bases and airports.