LAS VEGAS, NV--(Marketwired - December 13, 2016) - Vivakor, Inc. (OTC PINK: VIVK) announced today that it has engaged the Kingdom of Saudi Arabia (KSA) through its national oil company ARAMCO in a Memorandum of Understanding (MOU) for remediation and reclamation services. The understanding is that Vivakor and its joint venture partner RRT (VIVARRT) will provide oil cleanup in various areas throughout the country.
Aramco currently produces 10M barrels of oil per day, and as a matter of course in their daily operations inadvertently spills oil. They have three designated oil waste disposal sites throughout the country and VIVARRT will work directly with long-standing in-country agents in the cleanup. The primary agent AL KALTHOMI General Contracting (KGC) is a leading general contractor based in Dammam, Saudi Arabia. Established in 2003 as part of KEW -- a major conglomerate in the environmental and waste management segment, KGC and its affiliate has successfully completed numerous large and medium scale turnkey projects for many prominent clients in different sectors which include Aramco, SECO, Sabic, and others.
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 essentially an asset acquisition company focused specifically on energy related projects across the globe, its patented, oil extraction technology and methodology is now operating in a production capacity in Utah. Vivakor offers investors a unique opportunity to participate in a very attractive royalty program for its investors that is based on production and sales of its oil.
The Company has also been working on a number of other initiatives including enhanced oil recovery projects throughout the globe utilizing acoustics. Unique to the Company 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 primarily precious metals from sand based ore. Since 2013, effectively capturing non-visible precious metals and rare earth minerals through a proprietary technology and method for processing sand-based ore material from one of their many claim sites in the US.
ABOUT VIVAKOR, INC.
For more information please visit www.vivakor.com.
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. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result 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. 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.