Saudi Aramco has entered into a collaborative development agreement with Honeywell, an American industrial firm, and King Abdullah University of Science and Technology (KAUST) to promote innovative technology that converts crude oil directly into chemicals.
This partnership is designed to lower the costs associated with crude-to-chemicals (CTC) methods and enhance the value derived from each barrel of oil by producing light olefins and other high-demand chemicals. The organizations stated that this technique could lead to improvements in fuel efficiency, carbon utilization, and the economic viability of the entire process.
“Our collaboration with Honeywell UOP and KAUST is a step forward in Aramco’s mission to foster innovation and influence the future of the petrochemical industry,” noted Ali A Al-Meshari, Aramco’s senior vice president of technology oversight and coordination.
“By leveraging leading-edge technologies, we aspire to boost energy efficiency and extract greater value from each barrel of crude oil.”
Honeywell executive highlights the significance of the partnership
Rajesh Gattupalli, president of Honeywell UOP, referred to the partnership as “an important milestone” in the advancement of CTC technology, emphasizing that the collaboration is anticipated to diminish emissions and bolster Saudi Arabia’s standing in the international chemicals sector.
KAUST’s involvement integrates academic research into the partnership. Ian Campbell, senior vice president at KAUST’s National Transformation Institute, remarked that this project exemplifies how scientific research can be applied in industrial settings to foster the kingdom’s technology-driven economy.
The three entities affirmed that this initiative aligns with Saudi Arabia’s Vision 2030, which aims to diversify the economy by enhancing downstream sectors and developing national technological expertise.