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Saudi Aramco signs JDA to commercialise TC2C technology

Industry

Saudi Aramco has signed a three-party joint development agreement (JDA) to scale up and commercialize Saudi Aramco’s Thermal Crude to Chemicals (TC2C™) technology

The JDA has been signed with CB&I, the US-based provider of technology and infrastructure for the energy industry, Chevron Lummus Global (CLG) and a process technology licensor.

The technology aims to pioneer Saudi Aramco’s research and development centre over the past few years in order to enable higher chemicals yield than previously achievable. It represents significant innovative progress and complements Saudi Aramco’s crude-to-chemicals conventional projects.

According to Aramco, the innovative and conventional approaches together focus on accelerating the growth of Saudi Aramco’s Chemicals business.

Amin H Nasser, president and CEO of Saudi Aramco, said, “Today’s Joint Development Agreement with CB&I and CLG is a technological first which will position Saudi Aramco to maximise the value of each barrel of crude oil it produces in the near future.”

With this agreement, Saudi Aramco aims to contribute to the development of a diversified Saudi economy, one that creates high value employment opportunities for young Saudis in a further realisation of Vision 2030 objectives.

Commenting on the agreement, Ahmad O Al-Khowaiter, chief technology officer of Saudi Aramco, said, “This partnership will enable us to leverage the unique strengths of our companies to accelerate the scale-up and de-risking of the technology, while reiterating Saudi Arabia’s global leadership in crude oil and commodities production.”

“This is set to support the kingdom’s efforts toward industrial diversification, job creation and technology leadership in Saudi Arabia through downstream conversion of chemicals,” he added.

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