In a groundbreaking development, Aramco and TotalEnergies have jointly announced the allocation of engineering, procurement, and construction (EPC) contracts for the highly anticipated "Amiral" complex. This ambitious project, estimated to cost a staggering $11 billion, will serve as a significant expansion of the SATORP refinery in the Kingdom of Saudi Arabia, ultimately establishing a state-of-the-art petrochemical facility on a global scale. In a momentous event held in Dhahran, a signing ceremony was graced by the presence of esteemed individuals, including Amin H. Nasser, the President and CEO of Aramco, and Patrick Pouyanné, the Chairman and CEO of TotalEnergies.
Construction work on the joint petrochemical expansion has commenced with the awarding of EPC contracts for the main process units and associated utilities. This significant milestone comes after the final investment decision was made in December 2022. In a groundbreaking development, plans are underway to integrate a state-of-the-art complex with the esteemed SATORP refinery located in Jubail. This ambitious project is set to become home to an extraordinary mixed-load steam cracker, solidifying its position as one of the largest in the entire Gulf region. With an impressive production capacity of 1,650 kilotons per year, this cutting-edge facility will be capable of generating ethylene and various other essential industrial gases.
In a move that is set to make waves across various industrial sectors, an expansion project is predicted to draw in an impressive sum of over $4 billion in additional investment. This ambitious endeavor is expected to have a far-reaching impact, with key areas such as carbon fibers, lubes, drilling fluids, detergents, food additives, automotive parts, and tires all poised to benefit from the anticipated surge in funding. The project is anticipated to generate approximately 7,000 jobs, both directly and indirectly, within the local community.
In a significant development, Amin H. Nasser, the President and CEO of Aramco, has announced a major stride towards bolstering the partnership between TotalEnergies and Aramco. Nasser highlighted the SATORP expansion project as the latest endeavor in a longstanding history of collaboration spanning nearly five decades between the two esteemed companies. In a strategic move to fuel its growth, Aramco has unveiled a project that is expected to bring significant value-added prospects to the downstream ecosystem in the Kingdom. The company expresses its gratitude to the Ministry of Energy and the Ministry of Investment for their unwavering support through the Shareek program, which has played a pivotal role in transforming this ambitious multi-billion-dollar project into a tangible reality.
In a momentous announcement, Patrick Pouyanné, the esteemed Chairman and CEO of TotalEnergies, expressed his enthusiasm for the renewed collaboration with Aramco, marking a significant milestone in their longstanding partnership. Pouyanné's words signify the beginning of an exciting new chapter in their shared history. The expansion project serves as a testament to the longstanding and commendable partnership between our two companies in the Kingdom of Saudi Arabia. The Ministry of Energy of the Kingdom of Saudi Arabia has been extended gratitude for its unwavering support during the entire course of this exceptional project's development.
On a momentous occasion, the signing ceremony witnessed the presence of esteemed dignitaries and influential figures from various nations. Among the notable attendees were HE Won Hee-ryong, the Minister of Land, Infrastructure, and Transport of South Korea, along with government officials hailing from Saudi Arabia, France, and South Korea. Additionally, the event boasted the participation of esteemed company executives representing industry giants such as Aramco, TotalEnergies, and prominent EPC firms.
In a recent development, the highly sought-after EPC contracts have been awarded to the following entities:
Hyundai Engineering & Construction Co. Ltd. recently announced its involvement in a groundbreaking project. The renowned company will be responsible for the construction of a mixed feed cracker and utilities, boasting an impressive nameplate capacity of 1,650 kta of ethylene and related industrial gases. Additionally, Hyundai Engineering & Construction Co. Ltd. will oversee the installation of essential utilities, flares, and interconnecting systems that will provide crucial support to the main packages within the facilities. This ambitious endeavor marks yet another milestone for the esteemed company in the field of engineering and construction.
Maire Tecnimont, a leading engineering company, has recently announced its plans to construct two polyethylene units utilizing state-of-the-art Advanced Dual Loop technology. These units, boasting an impressive nameplate capacity of 500 kta each, will be accompanied by derivative units.
In a recent development, Sinopec Engineering (Group) Saudi Co. Ltd. has been chosen for the crucial task of integrating the Tank Farm and SATORP projects. This decision comes as a significant step forward in the ongoing efforts to streamline operations and enhance efficiency in the oil and gas sector.
Gulf Consolidated Contractors Co. has been selected to handle the construction of transfer pipelines.
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