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FinancialNews


  • 18-12-22

    Saudi Aramco cooperates with TotalEnergies to establish petrochemical complex in Saudi Arabia

    (MENAFN) Energy company Saudi Aramco has cooperated with French oil giant TotalEnergies to establish a petrochemical service in Saudi Arabia with an evaluated funding of nearly USD11 billion.

    As said in a two-sided press statement, the petrochemical service labeled ‘Amiral’ is going to be possessed, functioned and integrated with the current Saudi Aramco Total Refining and Petrochemical refinery sited in Jubail on the eastern coast of the Country.

    The building of the petrochemical service is estimated to start in the January-March period of next year as well as the commercial functions are going to be launching within 5 years (2027).

    The total complex and its together services are estimated to offer 7,000 direct and indirect employment opportunities, as said in the release.

    “Our long-standing relationship with TotalEnergies has been further strengthened by this important project, which represents an opportunity for us to showcase the potential for cutting-edge liquids to chemicals technologies that support the circular economy,” according to Aramco Leader and Chief Executive Amin Nasser.

    He continued: “With this collaboration we aim to expand the value chain by producing advanced chemicals more efficiently than ever before, accelerating industrial progress in the Kingdom.”

    MENAFN18122022000045014228ID1105323398

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