Saudi Arabia: Memorandum of Understanding Saudi Aramco and Total Sign MoU for Large Petrochemical Complex
Saudi Aramco and Total signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia. The project will represent an investment of around $ 5 billion.
Paris/France — The complex will be integrated downstream of the Satrop refinery, a joint venture between Saudi Aramco and Total. This world-class refinery with a 400,000-barrel-per-day capacity is recognized as being one of the most efficient in the world.
Once finished, the petrochemical 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 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.