MOSCOW, AMERICAN COMPANIES SIGN AGREEMENT FOR LICENSING AND MARKETING OIL REFINING PROCESS TECHNOLOGIES
MOSCOW, AMERICAN COMPANIES SIGN AGREEMENT
FOR LICENSING AND MARKETING OIL REFINING PROCESS TECHNOLOGIES
MOSCOW, Jan. 29 /PRNewswire/ -- BAR-CO Processes Joint Venture, a partnership between a subsidiary of the Coastal Corporation and D.A.R.T. Inc., announced today the signing of an agreement in Moscow for marketing three advanced refining technologies in the Commonwealth of Independent States.
BAR-CO Processes Joint Venture signed a license and marketing agreement with the All-Union Scientific Research Institute of Oil Refining (VNII NP) and the Ministry of Chemical & Oil Refining Industries.
The agreement signed in November 1991 covers:
-- The Discriminatory Destructive Distillation (3D) Process, a new, economically attractive process for upgrading the bottom of the barrel, as well as heavy crudes and tar sands, to high quality products. This process, licensed by BAR-CO, is particularly suited as a wellhead facility for the conversion of very heavy hydrocarbon material into high quality syncrudes.
-- The Milli-Second Catalytic Cracking (MSCC) Process, which incorporates a revolutionary catalyst-liquid contacting system, resulting in an improved yield structure as compared to conventional Fluid Catalytic Cracking Unit (FCCU) operations. The MSCC process, also licensed by BAR-CO, can economically process residual oil feedstocks which are heavier and have a higher metal content than those currently processed in today's state-of-the-art FCCUs.
-- The Adsorpcionaia Kontaktnaia Ochistka (AKO) Process, a new process for upgrading heavy crudes and residual oils, which incorporates unique design features developed and licensed by VNII NP. The institute's AKO unit will enable a refiner to maximize the production of high value transportation fuels.
"This agreement not only extends the availability of these processes to new markets, it expands our relationship with businesses in the Commonwealth of Independent States," said James R. Paul, president and chief executive officer of the Coastal Corporation. "Both companies and the nations represented benefit by having access to these very advanced technologies."
"I am sure the signed agreement will provide new possibilities for the commercial applications of our state-of-the-art technologies," said VNII NP Director Evgeney Radchenko. "Our cooperation is an excellent example of the mutually profitable relations between our nations."
BAR-CO is a joint venture between D.A.R.T., Inc. and Coastal Cat Process Marketing, Inc. It is engaged in the licensing and marketing of the 3D and MSCC processes worldwide and the development of new refining technologies.
The Coastal Corporation is a Houston-based energy holding company. It has consolidated assets of $9 billion and subsidiary operations in refining and marketing, oil and gas exploration and production, natural gas transmission and storage, coal and chemicals, and independent power production.
The All-Union Scientific Research Institute of Oil Refining (VNII NP) is situated in Moscow and is the Commonwealth's leading scientific and technological center, incorporating three scientific divisions and four experimental plants. For more than 55 years, the institute has been designing a wide variety of advanced processes such as catalytic cracking, hydrocracking, hydrotreating, heavy oil upgrading, lubricant production and others.
/CONTACT: Steven M. Eames of Coastal, 713-877-6733/
(CGP) CO: Coastal Corporation; D.A.R.T. Inc. ST: Texas IN: OIL SU: LIC SM -- NY028 -- 4648 01/29/92 10:48 EST