Technip announces the extension of its long-standing agreement with BP in the purified terephthalic acid (PTA)(1) domain. Technip will now also become the exclusive provider of the ISBL (Inside Battery Limit) FEED (front-end engineering and design) to BP for third-party licensing. This announcement follows BP’s decision last year to make its leading, proprietary PTA technology available for licensing to third parties (not affiliated with BP).
This builds upon the agreement signed in 2000, whereby Technip and BP entered into an exclusive alliance for FEED services for BP’s PTA projects. BP is one of the largest PTA producers in the world and its PTA technology has significantly lower capital and operating costs, compared with conventional PTA plants. Besides, it is more energy efficient, uses less water and produces less solid waste than its competitors.