January 22, 2010 (FinancialWire) — KBR (NYSE: KBR) said it has signed a Collaboration Agreement with BP (NYSE: BP) to promote, market, and execute licensing and engineering services for the slurry bed residue and coal upgrading Veba Combi Cracker Technology.

VCC Technology is a hydrogen addition technology suitable for processing residuum into high-quality distillates or synthetic crude oil in the refining, upstream field upgrading and coal-to-liquids.

KBR adds VCC to its resid technology portfolio, which will now include a complement of solvent deasphalting, resid hydrocracking, delayed coking, resid solidification and gasification.

The company said the technology will be available for licensing globally.

Houston-based KBR is an engineering, construction and services company supporting the energy, hydrocarbon, government services, minerals, civil infrastructure, power and industrial markets.

London-based BP is an oil and gas company serving customers in more than 90 countries, and employing over 90,000 people.

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