BP inks licensing agreement with Ompet for PTA technology

02-Sep-15

BP and Oman International Petrochemical Industries Company (OMPET) (a joint venture between Oman Oil Company, LG International Corp and Takamul Investment Company) have entered into a licensing agreement for BP’s latest generation purified terephthalic acid (PTA) technology. OMPET plans to build a 1.1 mln tpa 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. This is a testimony to the advantages of BP’s technology and to BP’s extensive experience as a PTA producer,” said Nick Elmslie, Chief Operating Officer, BP Petrochemicals. “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 the global 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.