HOUSTON--(BUSINESS WIRE)--KBR (NYSE:KBR) announced today that it has signed a Collaboration Agreement with BP to promote, market, and execute licensing and engineering services for the slurry bed residue and coal upgrading Veba Combi Cracker (VCC) Technology.

VCC Technology is a hydrogen addition technology suitable for processing residuum into high-quality distillates or synthetic crude oil in the refining, upstream field upgrading and coal-to-liquids (CTL). KBR adds VCC to its robust resid technology portfolio, which will now include a full complement of solvent deasphalting, resid hydrocracking, delayed coking, resid solidification and gasification. The technology will be available for licensing globally.

“The addition of this technology to KBR’s portfolio provides the company with a unique business advantage, as we are now the only technology provider to offer all five options for hydrocarbon upgrading to clients worldwide,” said William P. Utt, KBR Chairman, President and CEO. “KBR anticipates the trend in refining and fuels production shifting to hydrogen addition, especially in the face of changing environmental regulations and the demand for carbon emissions reductions. The addition of VCC to our portfolio puts KBR in a position to meet client needs as these changes begin affecting the global hydrocarbons market. We are proud to partner with BP to market VCC technology to clients worldwide.”

“The option to convert unconventional feedstocks such as heavy oil and coal will be key in meeting transport fuel demand for the next 25 years,” said Iain Conn, CEO BP Refining & Marketing. “VCC is a highly competitive process for maximising transport fuel yield from heavy oil and coal. We are very pleased to be collaborating with KBR on the use of VCC to maximize liquid fuel yields whilst minimising environmental impacts of heavy and unconventional feedstocks.”

KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power and industrial markets. For more information, visit www.kbr.com

BP is one of the world's largest oil and gas companies, serving millions of customers every day in more than 90 countries, and employing over 90,000 people. BP’s business segments are Exploration & Production, and Refining & Marketing. In alternative energies, BP has low- and no-carbon wind, solar, biofuels, and power generation/carbon capture projects.

Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies. For more information, visit www.bp.com.