LAS VEGAS, NV --(Marketwired - January 25, 2017) - Vivakor Inc. (OTC PINK: VIVK) announced today that its VivaRRT Joint Venture has formally entered in to agreement with KEW a Saudi Aramco approved oil disposal site, for remediation and reclamation services. The Company believes this will be the first of many contracts to come to VivaRRT in the coming years in the Middle East Region.
Saudi Arabia through Saudi Aramco, the country's oil company, produces 10M (Million) barrels of oil per day, and through the course of their daily operations inadvertently spills oil. The scale of their nationwide operations is so vast that even small, recurring spills results in sizable accumulation. Aramco has designated oil waste disposal sites within the country and VIVARRT will actively work on a continual basis directly on the cleanup. This project is slated to begin in early Spring 2017.
Vivakor, Inc. procures and develops revenue producing assets around the world. These holdings include intellectual properties that are proprietary and largely disruptive while centered principally in the natural resources sector. Vivakor is fundamentally an asset acquisition company focused on energy related projects across the globe. Its patent pending, oil sands extraction technology and operating methodology is functioning in a production capacity in Eastern Utah. Vivakor offers oil investors a unique opportunity to participate in a very smart royalty program that is based on productivity and sales of its oil.
The Company has also been working on several other initiatives including enhanced oil recovery projects throughout the globe utilizing advanced acoustics. Unique to the Company and as stated herein is a mobile, rapid deployment, global capability for remediation and reclamation of contaminated soil created due to oil spills. The Company has successfully cleaned soil and recovered oil for some of the largest oil operators in the world.
Additionally, the Company utilizes a thermal-based technology for extraction of precious metals from sand based ore. Since 2013, the company has effectively captured non-visible precious metals and rare earth minerals through a proprietary method for processing sand-based ore material from one of their many claim sites in the US. The Company revealed it is actively working on other strategic metals based endeavors.
ABOUT VIVAKOR, INC.
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This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon our current expectations and speak only as of the date hereof. The Company's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company's actual results may vary materially from those expressed or implied in its forward-looking statements. As such our actual results, may differ materially and adversely from those expressed in any forward-looking statements because of various factors and uncertainties, including economic slowdown affecting companies, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions across the globe. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors may be incorporated herein by reference. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.