LONDON (ICIS)--Saudi Aramco and Total have signed a memorandum of understanding (MoU) to build a “giant” petrochemical complex at their SATORP refinery in Jubail, eastern Saudi Arabia, the French energy major said on Tuesday.
The complex will be integrated downstream of the SATORP refinery, a joint venture between Aramco (62.5%) and Total (37.5%).
The refinery has the capacity to process 440,000 bbl/day.
Total said total capital expenditure (capex) for the project would stand at around $5bn.
The companies are planning to start the front-end engineering and design (FEED) in the third quarter.
“The cracker will feed other petrochemical and specialty chemical plants representing an overall amount of $4bn investment by third party investors,” said Total.
“In total, $9bn will be invested, creating 8,000 local direct and indirect jobs. The project will produce more than 2.7m tonnes [/year] of high value chemicals.”