Chinese oil and gas company and the world’s largest refining operator, Sinopec purchased Italian energy company Eni's slurry technology for the construction of its refining plant, the Italian oil and gas company said Monday.
Eni has sold its license and basic engineering project based on Eni Slurry Technology (EST) to Sinopec to provide environmental benefits in refining operations, the press release said.
The plant will be built at the Sinopec refinery in southwestern Guangdong province, which is due for completion by 2020.
Eni's new technology makes it possible to convert refining residues entirely into high-quality light products, eliminating both liquid and solid residues with significant environmental benefits, according to the press release.
The press release elaborated on the technical details of the project but refrained from divulging any financial information on the deal between the two companies.
"Sinopec's plant has a design capacity of 46 thousand barrels per day of heavy refining residue (310 tons per hour). The plant will replace the existing pet-coke production line, with significant environmental benefits in compliance with the new IMO (International Maritime Organization) regulations concerning sulphur contained in bunker fuel. The elimination of pet-coke production is part of global efforts to contain carbon dioxide emissions," the press release said.
Additionally, Eni will provide Sinopec with the basic engineering project, the Process Design Package, and other services, such as operational and technical training, as well as assistance during the development phase and the implementation of detailed engineering, and during the pre-commissioning and start up phases.
Sinopec will be responsible for the detailed engineering and construction operations, according to the press release.
By Muhsin Baris Tiryakioglu