Saudi Aramco TC2C TM, CC2C TM process and Yanbu project

On January 18, 2018, Saudi Aramco, through its wholly-owned subsidiary Saudi Aramco Technologies, signed a three-party Joint Development Agreement (JDA) with CB&I, a U.S.-based leading provider of technology and infrastructure for the energy industry, and Chevron Lummus Global (CLG), a joint venture between CB&I and Chevron U.S.A. Inc., and a leading process technology licensor. The target of this process is to converting 70-80% per barrel of oil to chemicals.

On January 29, 2019, Saudi Aramco, through its wholly-owned subsidiary Saudi Aramco Technologies, today signed a Joint Development and Collaboration Agreement (JDCA) with Axens and TechnipFMC to accelerate the development and commercialization of the company's Catalytic Crude to Chemicals (CC2C TM) technology.

CC2C TM technology has the potential to significantly increase the efficiency and yield of chemicals production, converting more than 60% of a barrel of crude oil into chemicals.