Saudi Aramco and Total have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia.
The complex will be integrated into the SATORP refinery, a joint venture between Saudi Aramco and Total, in a move designed to fully exploit operational synergies. This refinery, with a capacity of 440,000 barrels per day, is recognised as being one of the most efficient in the world.
The complex will comprise a world-size mixed-feed steam cracker with a capacity of 1.5 million tonnes per year of ethylene and related high-added-value petrochemical units.
The project will represent an investment of around $5 billion and the two companies are planning to start the front-end engineering and design 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 part investors.