Aramco to implement Quadrise technology in refineries

A Memorandum of Agreement (MOA) has been signed between Quadrise International Limited and Quadrise KSA Limited, both Quadrise group companies, and Rafid.

Quadrise said in a statement that the MOA commits the parties to an exclusive relationship within Saudi Arabia. In addition, when contract terms are finalised for the first MSAR process installation in a major refinery in the country, Quadrise and Rafid will form a joint venture company to undertake all further business in which Rafid will hold an interest of up to 30 per cent.

MSAR has been marketed by Quadrise as a low-cost alternative to heavy fuel oil in the shipping, refining and power generation markets.

The firm said the chemical process of MSAR allows the production of fuel oil without the need for diesel, resulting in potential cost savings and cheaper power generation in Saudi Arabia.

Quadrise chairman Ian Williams said, "We are delighted to have concluded this agreement with Rafid. Saudi Arabia is a key market with enormous business potential for Quadrise, especially as the government seeks to optimise energy resources in the kingdom."

Commenting on the agreement, chairman of Rafid, Abdul Aziz Al Mandil, remarked, “MSAR technology offers great benefits for both Saudi Aramco and the kingdom at large. The approval of MSAR technology by Saudi Aramco is a major milestone.”