BP and Oman International Petrochemical Industries Company (OMPET) have entered into a licensing agreement for BP's latest generation purified terephthalic acid (PTA) technology.
OMPET intends to build a 1.1 million tons per annum unit at Sohar, Oman, to produce PTA, the primary feedstock for polyesters used in the textile and packaging industry.BP and Oman International Petrochemical Industries Company (OMPET) have entered into a licensing agreement for BP's latest generation purified#
“This is the first license for BP's PTA technology in the Middle East which is an important and strategic region for BP,” the company said in a press release.
Nick Elmslie, chief operating officer, BP Petrochemicals said, “This is a testimony to the advantages of BP's technology and to BP's extensive experience as a PTA producer.”
BP will provide a wide range of technical and knowledge transfer services as well as a commitment to assist Omani staff within the OMPET joint venture.
The front end engineering design (FEED) package for the licence has been completed and delivered to OMPET on schedule.
“I am very proud that OMPET has chosen BP's PTA technology and we look forward to a long standing relationship between our companies,” said Daniel Leonardi, vice president, technology and licensing, BP Petrochemicals.
“Our PTA technology has significantly lower capital and operating costs when compared with conventional PTA plants and the technology is more energy efficient, uses less water, and produces less solid waste,” he added.
“We continue to invest heavily in our proprietary technology and this will maintain BP's PTA technology as the global leader and as the technology of choice for the future,” Leonardi informed.
He further added, “Innovations in the technology will continue to be developed and implemented and these will be available to our licensees, including OMPET.”
BP's global petrochemicals business has total net capacity at 18 locations in ten countries of 18.3 million tons per annum including 6.7 million tons per annum of PTA.
BP is one of the world's largest oil and gas companies, serving millions of customers every day in around 80 countries, and employing around 85,000 people.
BP's PTA technology was originally developed in the USA during the 1950s and through successive iterations has continued to improve in terms of its capital and operating costs.
BP's latest iteration of PTA technology is in use at the BP Zhuhai joint venture in China and has been licensed to JBF Industries in India, each with 1.25 million tons per annum capacity. (AR)
Fibre2Fashion News Desk – India
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