Saudi Aramco has signed a joint development and collaboration agreement with French technology developer Axens and contractor TechnipFMC to “accelerate the development and commercialization” of its Catalytic Crude to Chemicals CC2C technology, one of two such deals critical to the Aramco/Sabic joint venture planning to develop a crude oil to chemicals plant at Yanbu.
Aramco says CC2C technology converts crude oil directly into chemicals, eliminating several energy-intensive processes to create high value products. The company says the process can convert more than 60% of a barrel of crude oil into chemicals. The agreement is aimed at achieving commercial readiness for the process by 2021. (CONTINUED - 330 WORDS)