Engineering, procurement, and construction (EPC) contracts for the $11 billion "Amiral" complex, a potential extension of the SATORP refinery in the Kingdom of Saudi Arabia's petrochemicals industry, were given today to Aramco and TotalEnergies. In a momentous event held in Dhahran, a signing ceremony unfolded, graced by the presence of esteemed individuals such as Amin H. Nasser, President and CEO of Aramco, and Patrick Pouyanné, 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 cutting-edge complex with the esteemed SATORP refinery 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 capacity to churn out a staggering 1,650 kilotons per year of ethylene and various other industrial gases, this venture is poised to make a significant impact on the market.
In a move that is set to make waves in the industrial sector, an expansion project is anticipated to draw in a staggering sum of over $4 billion in fresh investments. This ambitious endeavor aims to bolster various industries such as carbon fibers, lubricants, drilling fluids, detergents, food additives, automotive parts, and tires. 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 alliance between TotalEnergies and Aramco. The expansion project of SATORP marks the latest chapter in a longstanding history of collaboration spanning nearly five decades between these two esteemed companies. In a move that aligns with Aramco's ambitious growth strategy, the company has announced a project that is expected to bring significant value-added opportunities to the downstream ecosystem in the Kingdom. Expressing gratitude, Aramco acknowledges 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 multi-billion-dollar project into a tangible reality.
In a significant development, Patrick Pouyanné, the esteemed Chairman and CEO of TotalEnergies, expressed his enthusiasm for the latest milestone achieved in the longstanding partnership between TotalEnergies and Aramco. Pouyanné emphasized the significance of this achievement, stating that it marks the commencement of a new chapter in their shared history. The rekindling of this association with Aramco has undoubtedly brought immense delight to Pouyanné and the entire TotalEnergies team. In a move that solidifies the longstanding partnership between our two esteemed organizations, a notable expansion project has been announced. This venture serves to further strengthen the exemplary relationship that has flourished between our companies over the course of several decades 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 those in attendance 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, prominent company executives from Aramco, TotalEnergies, and esteemed EPC firms graced the event with their presence.
In a recent development, the highly sought-after EPC contracts have been awarded to the following entities:
Hyundai Engineering & Construction Co. Ltd. has recently announced its involvement in a significant 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 utilities, flares, and interconnecting systems that are crucial in supporting the main packages within the facilities. This venture marks yet another milestone for the esteemed company in the field of construction and engineering. Maire Tecnimont, a prominent engineering company, has recently announced its plans to construct two polyethylene units utilizing cutting-edge 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 selected for the prestigious project of tank farm and SATORP integration. This significant undertaking aims to enhance the operational efficiency and streamline the processes involved in the integration of the tank farm and SATORP facilities. Sinopec Engineering (Group) Saudi Co. Ltd., a renowned player in the industry, has been entrusted with this crucial task, further solidifying their position as a leading engineering company. The successful execution of this project is expected to bring about numerous benefits, including improved productivity and optimized Gulf Consolidated Contractors Co. has been selected to handle the construction of transfer pipelines. Introducing Mohammed Ali Al-Suwailem Trading and Contracting Co.: A Leading Provider of Industrial Support Facilities Mofarreh Marzouq Al Harbi and Partners Co. Ltd.: A Leading Company in Site Preparation In a recent development, Mobarak M. AlSalomi and Partners for Cont. Co. have emerged as prominent players in the realm of temporary construction facilities. With their expertise and experience, they have successfully carved a niche for themselves in this competitive industry.
