Based on analysis of acidic heavy resid processing technologies with production of surfactants, we are proposing a new processing method allowing for multifunctional oilfield reagent production, which consists in removal of free sulfuric acid from the acidic heavy resid by mixing with water in a 1:6 ratio and further neutralization of the obtained solution with ammonia to pH 8-9. To determine the functional properties of the surfactant produced, we used a liquid solution and a crystalline powder obtained by evaporation. The reagent is distinguished by high detergent (up to 97%) and demulsifying (85%) capacity. The results of mathematical modeling of the oil displacement process using the Buckley-Leverett function (equation) showed that the oil extraction coefficient rises to 0.66 (oil viscosity 50 mPa center dot sec) when solution of the reagent is injected into the reservoir. Laboratory bench tests showed rise of oil extraction coefficient to 0.73 (oil viscosity 30 mPa center dot sec). Thus, the reagent can be used as demulsifier, oil displacement agent, and technical detergent.