Service company MOGAS Industries has been awarded a multimillion-dollar contract for the first commercialization of the TC2C, or Thermal Crude to Chemicals, technology at South Korean refiner S-Oil's Shaheen project.

The contract is backed by Aramco, S-Oil’s largest shareholder, and is the biggest investment for the Saudi Arabian company in South Korea.

The project is a collaboration with Aramco and Chevron Lummus Global, a joint venture between Chevron U.S.A. Inc. and Lummus Technology for the Shaheen petrochemical project.

“This investment will make a positive impact on the global marketplace with clean heavy crude upgrading that supports the green economy,” MOGAS CEO Matt Mogas said in a press release.

The Lummus Technology-licensed TC2C technology converts whole crude and other refinery orphan streams into high value olefin and aromatic products.

MOGAS will supply more than 90 2-inch through 14-inch ASME 300–2500 Class severe service valves and actuation packages, which include multiple emergency shutdown valves.

MOGAS has more than 11,000 valves installed in at least 30 ebullated and slurry bed hydrocracking active operations worldwide.