Riyadh – Mubasher: Saudi Aramco Technologies, the 100% subsidiary of the state-owned Saudi Aramco, on Tuesday signed a Joint development and collaboration agreement (JDCA) with Axens and TechnipFMC to develop Catalytic Crude to Chemicals (CC2C) technology that will contribute to converting crude oil into chemicals.
Set to be ready for commercial use by 2021, CC2C technology is forecast to raise the efficiency of chemicals production by converting over 60% of each crude oil barrel into chemicals, according to a statement.
“Oil will become increasingly more important as a feedstock in the production of petrochemicals. Saudi Aramco is leveraging its position as the world’s oil powerhouse to capitalize on the strong growth potential for chemicals globally,” Aramco’s CEO Amin Nasser said.
Aramco, Axens and Oil services group TechnipFMC are members of the HS-FCC technology Alliance.
“TechnipFMC’s solid position in FCC technologies as well as down flow catalytic cracking experience will provide a strong foundation for this joint development,” president, Process Technology at TechnipFMC Stan Knez said.
