The Georgian company Black Sea Petroleum (BSP) has signed a significant engineering and licensing agreement with the American technological giant, Honeywell. The agreement covers the design and licensing of core technological processes. Additionally, active work is underway to supply the plant with equipment and high-tech control centers. This partnership brings Black Sea Petroleum significantly closer to producing Euro-5 standard gasoline, diesel, and aviation fuel.
Honeywell brings over 100 years of experience as a leading international provider and licensor of technological processes, equipment, and services in the oil refining, gas processing, and petrochemical industries.
Below is the full official press release issued by the company:
Tbilisi, Georgia
Black Sea Petroleum has signed an engineering and licensing agreement with a tech giant Honeywell for key refining units. This cooperation represents a historic milestone for Black Sea Petroleum and for the development of Georgia’s energy sector.
Black Sea Petroleum (BSP) is developing a new refinery in Kulevi, Georgia that can process 4,5 million ton per annum (tpa) of crude oil. BSP has already operationalized one crude distillation unit for 1.2 million tpa and is constructing a second unit for 3,5 million tpa. BSP has appointed Honeywell to provide the technology licenses, basic engineering, specialty equipment and catalysts for the new refinery project to enable the production of high-quality jet fuel, gasoline, diesel and marine fuels that meet international standards.
The Black Sea Petroleum Refinery project is strategically important for Georgia, contributing to energy independence by enabling domestic fuel production, reducing reliance on imports, and strengthening national energy security. Under the terms of the agreement, BSP and Honeywell also plan to explore cooperation on future development stages, including petrochemicals and deep conversion process technologies to enhance the refinery product production.
BSP and Honeywell plan to continue their cooperation in future development stages, which will include the implementation of petrochemical and deep oil refining technologies to maximize the plant’s productivity.
