10 April 2018
DETAILS
During the official visit to Paris by
Crown Prince of Saudi Arabia, HRH Mohammed bin Salman,
Saudi Aramco and Total signed
a memorandum of understanding
to build a giant petrochemical complex
in Jubail, Saudi Arabia.
The complex will be integrated downstream
of the SATORP refinery, a joint venture
between Saudi Aramco (62.5%) and Total (37.5%) in Jubail,
in a move designed to fully exploit operational synergies.
This world-class refinery, whose capacity increased
from 400,000-barrel-per-day at its start-up in 2014
to 440,000-barrel-per-day today,
is recognized as being one of the most efficient in the world.
Located next to the SATORP refinery in
the same industrial area, the complex will comprise
* a world-size mixed-feed steam cracker
(50% ethane and refinery off-gas)
with a capacity of 1.5 million tons per year of
ethylene and related high-added-value petrochemical units.
The project will represent an investment of around $5 billion.
The two partners are planning to start
the front-end engineering and design (FEED)
in the third quarter of 2018.
The cracker will feed other petrochemical
and specialty chemical plants
representing an overall amount of $4 billion investment
by third party investors.
In total, $9 billion will be invested,
creating 8,000 local direct and indirect jobs.
The project will produce more than
2.7 million metric tons of high value chemicals.
Amin H. Nasser,
President and Chief Executive Officer of Saudi Aramco
“The agreement deepens the exemplary relationship
enjoyed by our two companies over many decades.
It is one that has evolved from
a standard buyer-seller arrangement to one imbued
with common interests to further develop and diversify our businesses,“
“Our joint venture SATORP is a remarkably successful model
of industry partnership and we are keen to build on this success
to further underpin Saudi Aramco’s strategy
to expand its capacity in the chemicals sector by 2030.”
Patrick Pouyanné,
Chairman and CEO of Total
“This project illustrates our strategy of maximizing
the integration of our large refining and petrochemical platforms
and of expanding our petrochemical operations
from low-cost feedstock, to take advantage
of the fast growing Asian polymer market,"
“Furthermore, this project will enable us to strengthen our ties
with Saudi Aramco, with whom we successfully operate
our biggest and most efficient refinery in the world.
Finally, it will contribute to the Vision 2030 of the Kingdom
by creating 8,000 jobs and bringing in
new high-added-value technologies.”
Total contacts
- Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
- Investor Relations: +44 (0)207 719 7962 l ir@total.com
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