01 September 2015
Muscat: British energy conglomerate BP and Oman International Petrochemical Industries Company (Ompet) have signed a licence agreement for the latest technology from the former to build a 1.1 million tonnes per annum (tpa) capacity project in Sohar.
Ompet, which is a joint venture of Oman Oil Company, LG International Corporation and Takamul Investment Company
, will have a licence for BP's latest generation purified terephthalic acid (PTA) technology, according to a press release from BP.
Ompet plans to build a 1.1 million tonnes per annum unit at Sohar 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. This is a testimony to the advantages of BP's technology and to BP's extensive experience as a PTA producer," said Rita Griffin, chief operating officer, BP Petrochemicals.
Ompet was formed in the third quarter of 2013 as a joint venture between Oman Oil Company (50 per cent), LG International Corp (30 per cent) and Takamul Investment Company (20 per cent), which is 93.7 per cent owned by Oman Oil Company.
"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. We continue to invest heavily in our proprietary technology and this will maintain BP's PTA technology as theglobal leader, and as the technology of choice for the future. Innovations in the technology will continue to be developed and implemented and these will be available to our licensees, including Ompet," said Leonardi.
BP's global petrochemicals business has total (net to BP) capacity at 18 locations in ten countries of 18.3 million tpa including 6.7 million tpa 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 business segments are oil and gas exploration and production, and refining and marketing.
© Times of Oman 2015