Chevron Lummus Global and Saudi Aramco Sign LC-HOPI+ Collaboration and Licensing Agreement
RICHMOND, Calif., Dec. 12, 2021 /PRNewswire/ -- Chevron Lummus Global LLC (CLG) and Saudi Aramco announced that they have signed a Joint Collaboration and License Agreement to co-develop and license Saudi Aramco's Heavy Oil Processing Initiative (HOPI+) technology.
HOPI+ aims to achieve relatively higher conversion of vacuum residue and other available heavy feeds, including incremental crude, using CLG's LC-FINING platform (jointly referred to as LC-HOPI+). The LC-HOPI+ innovative process is expected to help minimize both CAPEX and OPEX and significantly improve margins for bottom-of-the-barrel upgrading.
In 2019, Saudi Aramco joined CLG at its research and development facility in Richmond, California, to create and develop the initial concept pilot testing. Success there led to further HOPI+ evaluations against different process schemes, which further helped quantify the technology's added value.
"HOPI+, combined with CLG's LC-FINING platform, is an innovative concept that simultaneously increases crude throughput and converts residue to valuable transportation fuels and petrochemical feedstock while minimizing capital and energy," said Ujjal Mukherjee, Managing Director, CLG. "The initiative further strengthens the relationship between Saudi Aramco and CLG as we develop, pursue and commercialize new and innovative technology."
"This collaboration with Chevron Lummus Global reflects the focus of Saudi Aramco on breakthrough technologies that generate added value across the hydrocarbon chain," said Motaz Al-Mashouk, Executive Director, Saudi Aramco.
Chevron Lummus Global and Saudi Aramco now intend to co-develop LC-HOPI+ technology before global commercialization by CLG.
About Chevron Lummus Global
Chevron Lummus Global (CLG), a joint venture between Chevron U.S.A. Inc. and Lummus Technology, is a leading process technology licensor for refining hydroprocessing technologies and alternative source fuels, as well as a global leader in catalyst system supply. CLG offers the most complete bottom-of-the-barrel solution for upgrading heavy oil residues. Our research and development experts are continuously seeking advancements in technology and catalysts that will improve operating economics for your next project. For more information, visit www.chevronlummus.com.
SOURCE Chevron Lummus Global
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