ConocoPhillips and
Bechtel Corp. Announce Heads of Agreement
for
Delayed Coking
Collaboration
This news
release was issued by a third party, and is
included here for archive purposes.
HOUSTON,
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.
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 to www.conocophillips.com.
Based in San
Francisco, Bechtel is one of the world's premier
engineering, construction and project management
companies. For more information, visit www.bechtel.com.
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CONTACTS: Wendy
Olson
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