Avantium renewable plastic facility in Delfzijl. Source: Avantium.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Worley (WOR) further progresses its strategic partnership with Avantium Renewable Polymers for the world-first commercial scale renewable plastics facility
  • The facility in Delfzijl, the Netherlands, will produce up to 5000 kilo-tonnes of plant-based furandicarboxylic acid (FDCA) every year
  • Following a final investment decision, Worley and Avantium have signed a technology cooperation agreement and Worley will deliver services to develop the facility
  • Additionally, the company has been awarded a three year engineering and procurement services contract by Shell Offshore to support its five assets in the Gulf of Mexico
  • Worley was up 0.96 per cent and trading at $14.74 per share at 12:24 pm AEST

Worley (WOR) has made progress with its strategic partnership with Avantium Renewable Polymers for the world-first commercial scale renewable plastics facility.

The parties announced the partnership last year, which will see the Avantium flagship facility in Delfzijl, the Netherlands, produce up to to 5000 kilo-tonnes of plant-based furandicarboxylic acid (FDCA) annually.

FDCA is a key building block for many chemicals and plastics such as polyethylene furanoate (PEF), which is a fully recyclable plastic.

The parties have now further progressed the partnership to the next stage.

Following a final investment decision, Worley and Avantium have signed a technology cooperation agreement and Worley will now deliver engineering, procurement and construction services to develop the facility.

Worley said this facility will be the commercial proof for future larger scale projects.

“We are excited to strengthen our strategic partnership with Avantium, a leader in advancing the circular economy,” Worley CEO Chris Aston said.

“This partnership supports Worley’s ambition focussing on sustainability and delivering a more sustainable world.”

Additionally, the company has been awarded a three year engineering and procurement services contract by Shell Offshore to support its five assets in the Gulf of Mexico.

This contract will support Shell’s transition to a digitalised project delivery model for the maintenance of offshore assets as part of Shell’s work to continue to lower carbon intensity.

Under the contract, Worley will provide professional services in digital enablement, engineering, procurement and support fabrication and construction.

“Having worked with Shell for over 30 years, we are pleased to provide these professional services to support Shell on its low carbon journey and support its assets in the Gulf of Mexico,” Mr Ashton said.

Worley was up 0.96 per cent and trading at $14.74 per share at 12:24 pm AEST.

WOR by the numbers
More From The Market Herald
The Market Herald Video

" 92 Energy (ASX:92E) intersects best uranium interval to date at GMZ discovery

92 Energy (ASX:92E) intersects its best interval of uranium mineralisation to date at the GMZ Uranium…
The Market Herald Video

" Strike Energy (ASX:STX) and Warrego Energy (ASX:WGO) confirm extension of high-quality gas resource at West Erregulla

Strike Energy (ASX:STX) and Warrego Energy (ASX:WGO) have confirmed a northern extension of a high-quality gas…
The Market Herald Video

" Buru Energy (ASX:BRU) systematic appraisal of JV Rafael discovery delayed

Buru Energy's (ASX:BRU) joint venture partner Origin Energy (ASX:ORG) delays systematic appraisal of the Rafael gas…
Carsales (ASX:CAR) - Managing Director and CEO, Cameron McIntyre

" Carsales.com (ASX:CAR) raises $842m for Trader Interactive acquisition

Carsales.com (ASX:CAR) has raised $842 million from its institutional entitlement offer to help fund its acquisition…