October 8 News, Saudi Aramco president and chief Executive Officer Nasser and Total company president and chief executive Patrick Pouyann signed a cooperative development agreement in Dhahran in Monday, will be located in Jubail, Chatedon coast, a large petrochemical plant project for the front-end engineering design. The world-scale petrochemical plant, announced in April 2018, will be located near the Satorp refinery to take advantage of business synergies. The Satorp refinery is a joint venture of Saudi Aramco (holding a 62.5% stake) and total (holding 37.5% per cent). The petrochemical plant will include a mix of 1.5 million tonnes of ethylene-producing pyrolysis units and associated high-value petrochemical production units, and the feedstock for the lysis unit includes 50% ethane and refinery exhaust, which will be the first petrochemical plant project in the Gulf to integrate with refineries.
The project, with an investment of about $5 billion, is expected to be completed in 2024. Saudi Aramco and total start Saudi petrochemical joint venture project study