São Paulo – Brazilian oil giant Petrobras signed on Monday (17) a preliminary agreement with Modern Mining Holding Company Limited, in Saudi Arabia, to develop in-depth studies regarding the viability of developing, financing, building and operating a calcinated petroleum coke plant in the Arab country.
The two organisations had already signed a memorandum in understanding in 2009, as previously informed by ANBA. The plant should produce calcinated petroleum coke, an input for the aluminium industry, from green oil coke, to be supplied by Petrobras. Calcinated petroleum coke is obtained through a process in which green coke is heated to high temperatures for the elimination of residues.
Investment in the project should be around US$ 450 million, to be equally financed by both parties, with the possibility of financing by governmental or private institutions. The plant should be built in Jubail or Raz az Zawr and should process up to 700,000 tonnes of calcinated petroleum coke a year. Expectations are for operation to begin in the second half of 2012.
Petrobras has been expanding its operation abroad. Currently, the company is present in the entire oil and energy industry chain, in exploration and production of oil and natural gas, refining, processing, distribution, trade and transport, to the production of petrochemicals and generation, distribution and transmission of electric energy. The company operates in 27 countries, according to Petrobras.
*Translated by Mark Ament
