Bapco has awarded an FCM agreement to Advanced Refining Technologies LLC (ART), a joint venture between W. R. Grace & Co. and US energy company Chevron.
FREMONT, CA: State-owned Bahrain Petroleum Company (Bapco) has awarded an FCM agreement to Advanced Refining Technologies LLC (ART), a joint venture between US specialty chemicals and materials corporation W. R. Grace & Co. and US energy company Chevron. The USD 240 million exclusive 5-year agreement, which provides an opportunity to renew for another five years, is the most significant catalyst management agreement ever negotiated by Bapcos.
Bapco will increase Bahrain's oil refinery processing capability from 267,000 to 380,000 barrels per day as part of the BMP. ART will also provide its Resid Hydrocracking catalyst technology for various feedstocks to maximize bottom-of-the-barrel upgrading. The technology is the top metals capacity and sediment control catalyst in the industry. ART will also offer FCM services for the recovery of metals from used catalysts.
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In front of Bapco's Chairman and Chief Executive, and top management and representatives from ART and CLG, the signing ceremony took place on August 11, 2021, at Bapco Club in Awali.
Bapco's Chairman and Chief Executive Dr. Dawood Nassif highlighted the significance of the deal, "Our new hydrocracking unit will convert 78 percent of the vacuum residue feed into intermediate products, which will then be further processed into high margin kerosene and diesel. A key component is catalyst performance and management, and the unique agreement signed with ART, who will be responsible for the total supply chain of catalyst from cradle to cradle. This agreement has taken over 18 months to develop and negotiate, and I thank all the parties involved in making this a success."
Jag Reddy, Managing Director of ART, said, "This award is significant. It demonstrates the superiority of our catalyst technology and our ability to provide value through unmatched global support and technical services. I want to thank Bapco for their vote of confidence." He added, "They will benefit tremendously over the life of this agreement through maximum conversion, lower operating costs, reliability, and longer run lengths. Most importantly, Bapco will free up valuable time and resources."