Versalis, the chemical company of Eni, and Solazyme, Inc. (NASDAQ: SZYM), a renewable oil and bioproducts company, announced a partnership to expand the commercial use of Encapso™ – the world’s first commercially-available, biodegradable encapsulated lubricant for drilling fluids.
Part of a leading oil and gas company and operating internationally with a dedicated distribution network, Versalis will expand market access and drive global sales for Encapso as a high-performance and sustainable drilling fluid additive. Versalis’ initial emphasis focus for the use of Encapso will be oil and gas fields operated by its parent company Eni, which represent is responsible for a significant amount of the world’s petroleum drilling activity. Encapso will be featured as part of the company’s recently launched product portfolio of Specialty Oilfield Chemicals product portfolio.
‘This partnership represents another important step to enhance our portfolio in the of oilfield chemicals, that which is a strategic business and a diversification opportunity for our company. Encapso, with its renewable footprint and biodegradability biodegradable properties, offers a high-performance and sustainable solution for the oil and gas industry. The know-how and the innovation potential of Solazyme makes it an ideal partner for Versalis to further develop its bio-based chemicals business‘, said Daniele Ferrari, Versalis CEO.