CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL A Chevron and Lummus Technologies Joint Venture Jan Steegstra European Fuels Conference Paris March15, 2012 LC-MAX Upgrading Residual Oil Products for the Maximum Production of Diesel
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CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
A Chevron and Lummus Technologies Joint Venture
Jan Steegstra
European Fuels Conference Paris March15, 2012
LC-MAX Upgrading Residual Oil Products for the
Maximum Production of Diesel
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
Chevron’s refining network can process over 600,000 barrels of heavy crude and residuum per day n In the United States, our El Segundo Refinery,
integrated with our nearby heavy oil production, continues to upgrade its heavy oil processing capacity and flexibility.
n In South Korea, Chevron is a 50 percent partner in the 840,000 barrel-per-day GS Caltex Yeosu Refinery complex that is currently expanding its heavy oil capacity.
n And our 350,000 barrel-per-day Pascagoula, Mississippi, refinery is one of the world’s most advanced heavy oil processing facilities.
2 A Chevron and Lummus Technologies Joint Venture
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
Chevron’s Heavy Oil Production in California
n San Joaquin Valley
n Headquarters: Bakersfield, California
n Manages oil and gas production operations in 8 area fields, with a focus on heavy oil.
n Largest producer in the state of California.
n Leaders in the application of new technology to enhance recovery operations, particularly around the use of steam.
n Home to Chevron’s global Heavy Oil Center of Excellence.
3 A Chevron and Lummus Technologies Joint Venture
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
Types of Crude Oil
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Arab XL Arab M Maya Boscan
8% 19%
31%
49% 27%
29%
30%
33%
26%
23%
19%
13%
37% 27%
19%
5%
LPG
Naphtha
K + D
VGO
VR
A Chevron and Lummus Technologies Joint Venture
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
Future Downstream Challenges n Available crude oils are
becoming heavier with higher contaminants
n Diesel demand growing n Environmental concerns
make product specifications more difficult
n Very heavy crudes favor upgraders close to fields
n Bio-renewables, F-T wax (from GTL plants) need upgrading
A Chevron and Lummus Technologies Joint Venture
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
CLG Downstream Technology Hydroprocessing for the Future
n Hydrotreating cleans up contaminants
n Hydrocracking converts heavy oils to high quality jet and diesel
n Chevron hydroprocessing developed 50 years ago to handle SJV crudes – heavy and high in nitrogen
n LC-FINING hydrocracks vacuum resid
A Chevron and Lummus Technologies Joint Venture
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
8 A Chevron and Lummus Technology Joint Venture
What is LC-FINING? n An Ebullated Bed Resid Hydrocracking
Process Designed to Process Heavy, High Metals, and/or High Solids Feeds l Atmospheric and/or Vacuum Residues l Bitumen From Oil Sands l Deasphalted Oil
n Ebullated (Expanded) Bed Reactor is Key
Process Feature l Isothermal Reactor Operation l No Pressure Drop Build-Up l Catalyst Can Be Added and Withdrawn
On-Stream l Greatly Extends Unit Run Length Versus
Fixed Bed Hydroprocessing
n Process Features High Distillate Yields and High Heteroatom and Metals Removal
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
Economics are incremental to Base Refinery, Debt/Equity=0/100, 30% tax rate, 4 years of construction, straight-line depreciation over 15 years of project economic life, and 15% discount rate for NPV calculations
CONFIDENTIAL PROPERTY OF CHEVRON LUMMUS GLOBAL
TO BE REPRODUCED, AND USED, ONLY IN ACCORDANCE WITH WRITTEN PERMISSION OF CHEVRON LUMMUS GLOBAL
LC-MAX Process Summary
n Process concept has been proven and is ready for commercialization
n Maximizes residue conversion to ~85 wt % n Increases flexibility to handle more difficult feeds
n Reduces dependency of conversion on type of feed processed
n Rejects heavy asphaltenes from process n Reduces reactor volumes, catalyst and hydrogen consumption
n Has very attractive return on investment
n Process can be applied to revamp and grassroots scenarios