Cross-Sector Co-Lab Programme

The benefits of platform: extending an aviation ecosystem designed originally for operational challenges to tackle a global pandemic and sustainability opportunities.

OMV, an international oil, gas, and chemicals company headquartered in Vienna, has signed a Memorandum of Understanding (MoU) with Wood to collaborate on licensing OMV's ReOil® technology. Since the signing of the MoU one year ago, the two companies have made good progress towards conclusion of a final collaboration agreement. ReOil® is a patented chemical recycling method that converts non-recyclable plastic waste into valuable pyrolysis oil, rather than sending it to landfills or incineration. The process operates under typical refinery conditions, and the resulting pyrolysis oil is primarily used to produce sustainable plastics. OMV has been working on this technology for over a decade and currently operates a pilot plant in Austria, with plans to start up a refinery-integrated large scale demo plant in the coming months. Their goal is to scale up to an industrial-scale recycling plant by 2027 with significant greenhouse gas emission savings compared to traditional plastic disposal methods.

By combining Baker Hughes’s global footprint and decades of domain expertise and leadership in areas like artificial lift and chemical injection with the most comprehensive set of cloud services in the world from AWS, we are helping operators extract maximum value from existing resources, while reducing operational downtime and enhancing overall well performance