Chevron, ZL Chemicals Ink A Technology Licensing Agreement

(RTTNews) - Chevron Technical Center, a subsidiary of Chevron Corporation (CVX), Wednesday announced that it has signed a technology licensing agreement with ZL Chemicals Ltd, under which ZL may commercialize Chevron-developed chemical surfactant technology.

With this agreement, which enables opportunity for broader commercial deployment of the technology, ZL plans to offer products and services utilizing this licensed technology under the Vantis brand.

Chevron has developed an advanced surfactant technology that improves resource recovery in unconventional reservoirs.

The Vantis product offering is expected to support applications in shale and tight reservoirs including base well enhanced oil recovery programs and new well-optimization efforts.

In pre-market activity, CVX shares were trading at $177.28, up 1.92% on the New York Stock Exchange.