Houston, TX - April 18, 2005
ConocoPhillips [NYSE:COP] and Bechtel Corp. today announced a Heads of Agreement (HOA) for a worldwide collaboration to facilitate the licensing and marketing of ConocoPhillips’ proprietary ThruPlus® delayed coking technology.
Conocophillips and Bechtel Corp. Announces Heads of Agreement for Delayed Coking Collaboration
Under the HOA, Bechtel will provide engineering services support for ConocoPhillips’ ThruPlus Coking Process licensing and design initiatives as related to proposals, studies and process design packages. Bechtel will promote ConocoPhillips as the preferred provider of delayed coking technology with current and prospective clients. Likewise, ConocoPhillips will promote Bechtel as the preferred contractor for the engineering, procurement and construction of delayed cokers using the ThruPlus Coking Process. The HOA builds upon the significant commercial success achieved in recent years under the former Conoco-Bechtel Alliance. The terms of the HOA were not disclosed.
ConocoPhillips' ThruPlus Coking Process is an advanced thermal process for upgrading low-value, heavy hydrocarbon residues into high-value, light hydrocarbon liquids. Backed by more than 50 years of operating experience, this proprietary process provides safety and environmental advancements, and achieves higher unit throughput, superior liquid yields and improved unit reliability for both grassroots facilities and existing coking units.
ConocoPhillips' extensive experience in delayed coking and technology licensing, combined with Bechtel’s leadership in engineering and executing delayed coking projects, makes this a natural combination to provide optimized environmental, safety and efficiency benefits to the refining industry, both now and into the future.
ConocoPhillips is an integrated petroleum company with interests around the world. For more information, go towww.conocophillips.com.
Based in San Francisco, Bechtel is one of the world's premier engineering, construction and project management companies.