Aramco signs an agreement to transform the SAMREF refinery into a petrochemical complex
Saudi Aramco, ExxonMobil, and SAMREF have signed a framework agreement to evaluate the massive development work of the SAMREF refinery in Yanbu, and its expansion into an integrated petrochemical production complex.
The companies will work to explore capital investments to develop and diversify production, including high-quality distillates that contribute to reducing emissions, high-performance chemicals, as well as opportunities to improve the refinery’s energy efficiency and reduce emissions resulting from its work through a strategy Integrated to reduce emissions.
Strategic cooperation
The President of Refining, Chemicals and Marketing at Saudi Aramco, Mohammed Al-Qahtani, said: "This phase of the SAMREF project represents an advanced step in our long-term strategic cooperation with ExxonMobil"
He added: "Designed to increase the conversion of crude oil and petroleum liquids into high-value chemicals, this project reinforces our commitment to value creation in the refining, chemicals and marketing sector, and our liquids-to-chemicals strategy."
He pointed out that the project will contribute to consolidating SAMREF’s position as a growth engine for the petrochemical sector in the Kingdom.
Reducing emissions
ExxonMobil’s senior vice president, Jack Williams, said: "We are proud of our partnership with Saudi Aramco and our long history in the Kingdom of Saudi Arabia. We look forward to evaluating this project, which is in line with our strategy that focuses on investments that enable us to develop high-value products that meet society’s evolving energy needs and contribute to building a future with lower emissions."
The companies will begin implementing the initial engineering and design phase of the proposed project, which aims to achieve maximum value from operational advantages, enhance the competitiveness of the SAMREF refinery, and help meet the growing demand for high-quality petrochemical products in the Kingdom.
The proposed refinery development and petrochemical expansion plan will be subject to market conditions, regulatory approvals, and final investment decisions by Saudi Aramco and ExxonMobil.
The proposed refinery development and petrochemical expansion plan will be subject to market conditions, regulatory approvals, and final investment decisions by Saudi Aramco and ExxonMobil.
"samrf" A joint venture, owned equally by the Saudi Arabian Oil Company (Saudi Aramco) and Mobil Yanbu Refining Company Limited (a wholly owned subsidiary of ExxonMobil).
It has "samrf" It currently has the capacity to process more than 400,000 barrels of crude oil per day, and produce a variety of energy products, including: propane, automotive diesel oil, heavy marine fuel oil, and sulfur.
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