In a grand gathering attended by esteemed guests, including the distinguished Minister of Land, Infrastructure, and Transport, Won Hee-ryong, and other notable individuals, the atmosphere was filled with anticipation and excitement. The occasion brought together a diverse audience consisting of both men and women, all eager to witness the unfolding events.
In a momentous development for the Kingdom of Saudi Arabia, a significant milestone has been reached in the partnership between Aramco, Total Energies, and SATORP. Today marks yet another thrilling day as we witness the unfolding of this exciting chapter.
The user expressed gratitude towards the Kingdom's Ministry of Energy, Ministry of Investment, and the Shareek program for their significant support in reaching this momentous milestone.
In a momentous milestone, Aramco is set to celebrate its 90th anniversary this year.
For nearly nine decades, our foundation has been built upon robust alliances established in 1933. Total Energies has played a pivotal role in our remarkable success, as we owe a great deal of our achievements to their unwavering support and collaborative efforts. Without the invaluable partnership of Total Energies and other esteemed allies, our current level of success would not have been possible.
In a heartfelt expression of gratitude, the user extends their thanks to Patrick and the entire Total team for their unwavering trust and friendship.
In a display of the growing bond between France and Saudi Arabia, high-level discussions took place this week between His Royal Highness, the Crown Prince Mohammed bin Salman, and President Macron. These meetings serve as a testament to the ongoing efforts to enhance bilateral relations between the two nations.
Aramco and Total have a longstanding history that spans nearly five decades, during which they have collaborated extensively in the downstream sector. The SATORP joint venture serves as a testament to the power of innovation, collaboration, and progress when two companies unite with a shared vision.
In a remarkable milestone, a decade ago, the inaugural shipment of products from SATORP marked a significant moment on September 23, 2013, coinciding with the celebration of Saudi National Day.
In a significant development, Aramco, Total, and SABIC achieved a groundbreaking milestone towards sustainability. Towards the end of last year, these industry giants successfully produced certified circular polymers using oil derived from plastic waste at SATORP, marking a remarkable first in the region.
In a time when numerous players in the energy sector are exhibiting caution towards capital investments, there is cause for celebration as we witness the remarkable progress of SATORP. This industry titan is poised to ascend to new heights with an impressive 11-billion-dollar expansion.
Aramco, the renowned energy company, remains committed to finding the optimal approach to meeting the world's current and future energy needs. With a focus on practicality, organization, and inclusivity, Aramco is actively pursuing an energy transition strategy.
Petrochemicals are poised to play a pivotal role in shaping that vision. In a bold and ambitious move, our company has set its sights on a groundbreaking target: the conversion of an impressive four million barrels per day of liquids into chemicals by the year 2030. This strategic endeavor will not only expand our value chain but also revolutionize the production of advanced chemicals by harnessing the power of state-of-the-art downstream technologies. With a focus on efficiency and innovation, we are poised to reshape the industry landscape and pave the way for a more sustainable and resourceful future.
In a strategic move aimed at bolstering the Kingdom's economic growth and diversification objectives, a crucial expansion initiative has been undertaken through a collaborative effort with esteemed global industry leaders, including Total. Today, a momentous occasion unfolded as the world-class EPC contractors officially inked their agreements. Renowned for their exceptional track records, these contractors are poised to deliver their projects with the utmost excellence, a characteristic that has become synonymous with their names. Notably, their commitment to incorporating a significant amount of local content further underscores their dedication to fostering regional growth and development.
The anticipated SATORP expansion is projected to generate a substantial number of employment opportunities, potentially reaching up to 7,000 jobs for both local direct and indirect positions. This development is expected to open doors for skilled and talented Saudi individuals, paving the way for increased job prospects within the region. In a move that aims to enhance operational efficiency and foster collaboration, the integration of SATORP's refinery is set to take a significant step forward. This development will not only strengthen its ties with other key facilities in the Jubail Industrial City area, including Sadara and Saudi Kayan, but also create a more cohesive and interconnected industrial landscape.
With the expansion taking place in Saudi Arabia, accompanied by the influx of billions of dollars in foreign direct investment, the nation is poised to further bolster its already substantial contribution to the country's GDP. This development aligns with Saudi Arabia's trajectory to emerge as the fastest-growing economy among the G20 nations in the current year.
Under the auspices of the government's Shareek program, an increasing number of local and international private sector enterprises are making substantial investments in Saudi Arabia. The agreements signed today serve as a testament to the remarkable achievements of this program.
Aramco, the leading energy company, remains committed to fostering collaboration and bolstering the local energy sector's global competitiveness. This dedication extends to both domestic investments from companies within the Kingdom and foreign investments from regions such as Europe and Asia. Aramco recognizes the immense value derived from these partnerships, which serve to enable and enhance the vibrant energy landscape on a global scale.
In a momentous gathering filled with anticipation, it is undeniable that today marks an exhilarating milestone for the Kingdom, the renowned Aramco, and the esteemed individuals present in this very room.
The expansion at hand serves as an exemplary blueprint for future achievements, owing its success to robust partnerships, exceptional relationships, and a foundation built on trust.
In a show of gratitude, the individual known as Shareek, along with the esteemed Ministry of Investment and the Ministry of Energy, led by the esteemed His Royal Highness Prince Abdulaziz bin Salman, have once again been acknowledged for their commendable efforts. In addition to the esteemed presence of Total Energies and various EPC companies, we gather here today.
In a moment that transcends mere formalities, we find ourselves not merely affixing signatures to contractual agreements but rather solidifying the bedrock of mutual reliance and venturing forth into the next chapter of our trailblazing and exhilarating expedition as a unified collective.
In a gracious display of gratitude, the user expressed their appreciation by stating, "Thank you.