Aramco, the national oil company of Saudi Arabia, and TotalEnergies, a major energy company, have announced the signing of an $11 billion contract to initiate the construction of a new petrochemicals complex in the Kingdom.
The joint statement issued by the two companies revealed that the project, named “Amiral,” will be a significant expansion of the SATORP refinery, aiming to establish a world-scale petrochemicals facility.
The Engineering, Procurement, and Construction (EPC) contracts for the Amiral complex were awarded to support the ambitious endeavor. The collaboration between Aramco and TotalEnergies highlights their commitment to further enhancing the petrochemicals industry in Saudi Arabia, leveraging the country’s abundant oil resources and TotalEnergies’ expertise in the field.
The new facility is expected to bolster Saudi Arabia’s position as a global hub for petrochemical production. The Amiral complex will contribute to the diversification of the Saudi economy and create new employment opportunities, driving economic growth in the region.
The partnership between Aramco and TotalEnergies reflects their shared vision to develop sustainable and innovative solutions in the energy sector. The project aligns with Saudi Arabia’s long-term goals of expanding its petrochemical capabilities and reducing its dependence on crude oil exports.
Construction of the Amiral complex marks a significant milestone in the collaboration between these industry leaders, solidifying their commitment to advancing the petrochemicals sector and supporting Saudi Arabia’s economic development.