MOSCOW (MRC) -- Solvay has inaugurated a newly expanded Oil & Gas lab in its world-class Singapore Research & Innovation Centre, reported the producer on its site.
The dedicated lab space, team and resources will enable Solvay’s Novecare global business unit to internationalize its oil & gas business to serve its regional customers looking to develop in the segments of production, cementing and stimulation, especially in fast growing countries such as China, Malaysia and Australia, among others.
The new lab showcases state-of-the art equipment and will focus on leading innovation and product development projects for customers in Asia Pacific. It will provide comprehensive solutions for cementing, stimulation and production applications, together with a dedicated team working on Enhanced Oil Recovery (EOR) Solutions. This is done in collaboration with Solvay’s global teams and strategic partners.
Employing its successful specialty formulation model, Solvay can now quickly develop and produce tailor-made chemicals and solutions to fit the unique geological conditions of local shale formations.
"We want to be close to our customers and continue the momentum to internationalize our oil and gas portfolio and formulated solutions. With high regional demand for oilfield chemicals, this expansion provides our customers close proximity to a partner with comprehensive solutions and custom formulations," explained Emmanuel Butstraen, Solvay Novecare President.
The lab expansion coincides with Solvay’s announcement of the inauguration of its alkoxylation plant in Singapore, the largest facility of its kind in Asia. The "on-pipe" investment will help meet that demand, complementing existing India and China facilities and joining Solvay Novecare’s seven other alkoxylation plants in Europe and North America. Located in the world-class integrated petrochemical hub of Jurong Island, the plant receives a key raw material, ethylene oxide via a dedicated pipeline, and fatty oleochemicals from nearby countries, providing a safe and sustainable source of supply for the near and long term.
As MRC informed earlier, in early July 2015, Solvay and Ineos announced the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. The finalized terms of the Joint Venture agreement remain materially unchanged from those announced in June last year. Solvay received upon closing an upfront cash payment of EUR150 million - subject to customary adjustments such as actual working capital levels. In addition to contributing their entire European chlorovinyl business, Solvay has transferred liabilities estimated at EUR260 million into the Joint Venture. In three years’ time, Solvay will exit INOVYN and receive an additional, performance-based payment targeted to be EUR280 million, with a minimum of EUR95 million. Thereafter, INEOS will be the sole owner of the business.
Solvay S.A. is a Belgian chemical company founded in 1863, with its head office in Neder-Over-Heembeek, Brussels, Belgium. The company has diversified into two major sectors of activity: chemicals and plastics. Solvay supplies over 1500 products across 35 brands of high-performance polymers – fluoropolymers, fluoroelastomers, fluorinated fluids, semi-aromatic polyamides, sulfone polymers, aromatic ultra polymers, high-barrier polymers and cross-linked high-performance compounds.