Riyadh – Mubasher: Saudi Aramco Technologies on Thursday signed a three-party Joint Development Agreement (JDA) with US CB&I and Chevron Lummus Global (CLG) in a bid to boost scaling up and marketing Thermal Crude to Chemicals (TC2C™) technology.
This state-of-the-art innovation will help abandon the conventional refining steps by employing a proprietary direct conversion process. The new technology also complements Saudi Aramco’s crude-to-chemicals conventional projects.
“Saudi Aramco is going beyond the quick wins and is instead prioritizing investments in groundbreaking R&D and technology,” Aramco’s CEO Amin Nasser said.
“Today’s Joint Development Agreement with CB&I and CLG is a technological first which will position Saudi Aramco to maximize the value of each barrel of crude oil it produces in the near future,” Nasser added.
Saudi Aramco Technologies is a wholly owned subsidiary by Aramco, while CB&I is US-based leading provider of technology and infrastructure for the energy industry.
CLG is a joint venture (JV) between CB&I and Chevron U.S.A. Inc.
