MOSCOW (MRC) -- BP and Oman International Petrochemical Industries Co. (OMPET) have entered into a licensing agreement for BP’s latest generation purified terephthalic acid (PTA) technology, reported Hydrocarbonprocessing with reference to officials' announcement.
Using BP's technology, OMPET intends to build a 1.1-million tpy unit at Sohar, Oman, to produce PTA, the primary feedstock for polyesters used in the textile and packaging industry.
"This is the first licence for BP’s PTA technology in the Middle East which is an important and strategic region for BP," said Rita Griffin, chief operating officer for BP Petrochemicals. "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," added Daniel Leonardi, vice president of technology and licensing at BP Petrochemicals. "The front-end engineering design (FEED) package for the licence has been completed and delivered to OMPET on schedule."
OMPET is a joint venture between Oman Oil Co. (50%), LG International Corp. (30%) and Takamul Investment Co (20%). Takamul is 93.7% owned by the Oman Oil Co.
As MRC wrote before, BP has planned to invest over USD200 million to upgrade its purified terephthalic acid (PTA) plants at Cooper River, South Carolina and Geel, Belgium. The investments will position these assets amongst the most efficient PTA manufacturing facilities in the world.
BP is one of the world's leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.
MRC