Ensyn sells heavy oil technology to Ivanhoe

Ottawa’s Ensyn Group Inc has sold its petroleum division and its heavy oil upgrading technology to Ivanhoe Energy Inc, Vancouver for US$85 million. The technology is considered key to developing mature heavy oil fields and stranded deposits by lowering costs and generating large amounts of surplus energy for steam and electricity production related to heavy oil extraction. The technology is also used to turn waste wood into specialty chemical products....