Versalis (Eni) and Sonatrach signed a Memorandum of Understanding in Algiers today.
The agreement is to carry out joint feasibility studies for an integrated petrochemical complex to be built in Algeria.
The agreement follows the cooperation agreement signed by Eni and Sonatrach last November and provides for the terms of a study aiming at enhancing hydrocarbons with value-added petrochemical products through the development, in Algeria, of one or a few world-scale industrial petrochemical facilities.
This agreement represents an opportunity for Versalis to collaborate with an integrated oil corporation, to which the Italian chemical producer will offer its industrial experience in managing large petrochemical plants, and the access to its proprietary technologies, within the framework of strategic joint projects.
Source: Oil Review Africa
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
