Check out all the ma­jor ac­tions that took place re­gion­ally and glob­ally re­cently

In Dhahran, Amin H Nasser, pres­i­dent and CEO of Saudi Aramco, and Pa­trick Pouyanné, chair­man and CEO of To­tal, wit­nessed the sign­ing of the joint de­vel­op­ment agree­ment for the front-end en­gi­neer­ing and de­sign of a giant petro­chem­i­cal com­plex in Jubail, on

Refining & Petrochemicals Middle East - - CONTENTS -

An­nounced in April 2018, the world­class com­plex will be lo­cated next to the SATORP re­fin­ery, op­er­ated by Saudi Aramco (62.5%) and To­tal (37.5%), in or­der to fully ex­ploit op­er­a­tional syn­er­gies. It will com­prise a mixed-feed cracker (50% eth­ane and re­fin­ery off-gases) – the first in the Gulf re­gion to be in­te­grated with a re­fin­ery – with a ca­pac­ity of 1.5 mil­lion tonnes per year of eth­yl­ene and re­lated high-added-value petro­chem­i­cal units. The project rep­re­sents an in­vest­ment of around $5bn and is sched­uled to startup in 2024.

The project will pro­vide feed­stock to other petro­chem­i­cal and spe­cialty chem­i­cal plants lo­cated in the Jubail in­dus­trial area and be­yond, rep­re­sent­ing an ad­di­tional $4bn in­vest­ment by third party in­vestors ben­e­fit­ting to the Saudi econ­omy. The over­all com­plex will rep­re­sent an in­vest­ment of about $9bn and is ex­pected to cre­ate 8,000 lo­cal di­rect and in­di­rect jobs.

Nasser said: “SATORP’S sec­ond-phase ex­pan­sion rep­re­sents a quan­tum leap in Saudi Aramco’s down­stream strat­egy to max­imise our hy­dro­car­bon re­sources and help po­si­tion the king­dom as a chem­i­cals man­u­fac­tur­ing hub, thus sup­port­ing eco­nomic di­ver­si­fi­ca­tion.”

“To­day’s sign­ing will de­liver on mul­ti­ple lev­els, from high-value fu­els and petro­chem­i­cal prod­ucts for con­sumers on three con­ti­nents to mean­ing­ful job cre­ation and lo­cal con­tent de­vel­op­ment. We are pleased to cel­e­brate with To­tal this lat­est mile­stone in the SATORP jour­ney.”

Pa­trick Pouyanné, chair­man and chief ex­ec­u­tive of­fi­cer of To­tal said: “We are de­lighted to write a new page of our joint his­tory by launch­ing a new giant project, build­ing on the suc­cess­ful de­vel­op­ment of SATORP, our big­gest and most ef­fi­cient re­fin­ery in the world. This world­class com­plex also fits with our strat­egy to ex­pand in petro­chem­i­cals by max­imis­ing the syn­er­gies within our ma­jor plat­forms, lev­er­ag­ing low-cost feed­stocks and tak­ing ad­van­tage of the fast grow­ing Asian poly­mer mar­ket.”

Bernard Pi­na­tel (sit­ting, left), pres­i­dent, re­fin­ing and chem­i­cals, To­tal, and Abdulaziz Al Ju­daimi (sit­ting, right), se­nior vice pres­i­dent, down­stream, Saudi Aramco, sign the joint de­vel­op­ment agree­ment in the pres­ence of Amin H Nasser (stand­ing, right), pres­i­dent and CEO of Saudi Aramco, and Pa­trick Pouyanné, chair­man and CEO of To­tal.

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