There is disclosed a reversible heat pump system 100 and a method of operating a reversible heat pump system to control the temperature of a process fluid of a chiller system 500. In a cooling mode, a working fluid is circulated for co-current flow with a process fluid at a heat exchanger 104 functioning as an evaporator heat exchanger, whereas in a heating mode, the working fluid is circulated for counter-current flow with the process fluid at the same heat exchanger 104 functioning as a condenser heat exchanger.