- The deal intends to attain commercial readiness for the CC2C™ technology by the year 2021.
- The technology’s process reportedly generates less emission compared with conventional
Saudi Aramco Technologies, the wholly-owned subsidiary of oil giant Saudi Aramco, has reportedly inked a joint development and collaboration agreement (JDCA) with TechnipFMC and Axens to fast-track the development of its Catalytic Crude to Chemicals technology.
According to a press release issued by Saudi Aramco, the CC2C™ technology converts crude oil into chemicals and produces high-value product streams to ensure larger quantities. It has the capacity to drastically increase the yield and efficiency of chemicals production, converting over 60 percent of a barrel of crude oil into chemicals. Moreover, the technology’s process reportedly generates less emission compared with conventional techniques.
The Chief Executive Officer of Saudi Aramco, Amin H. Nasser was reportedly quoted saying that oil would emerge as one of the most important feedstock in the manufacturing of petrochemicals. The company is advancing cutting-edge technology to meet the growing demand for petrochemicals with the help of the latest strategic collaboration with TechnipFMC and Axens, Nasser further added.
Reportedly, the new partnership would support the efforts of Saudi Aramco to build a global chemicals business as it continues to leverage its leadership position to benefit from the robust growth prospects for chemicals across the globe.
The CC2C™technology is reportedly based on HS-FCC technology. For the record, TechnipFMC and Axens are also the members of HS-FCC technology alliance and possess exclusive licenses to utilize the technology.
President of TechnipFMC Process Technology, Stan Knez reportedly commented that the CC2C™ technology would be a novel approach to manufacture a full range of petrochemicals by using crude oil as feedstock.
The deal intends to attain commercial readiness for the CC2C™ technology by the year 2021, claim reliable sources.