Saudi Aramco, Sabic reevaluate COTC project, expand scope to include existing facilities at Yanbu

Published: 23 October 2020 - 2 a.m.
By: Martin Menachery
SABIC has made an statement in reference to the announcement made on Tadawul on 26 November 2017, regarding the signing of a memorandum of understanding with Saudi Aramco to study the feasibility of developing an industrial complex to convert crude-oil-to-chemicals (COTC).

SABIC announced the expansion of the scope of converting crude oil to chemicals project with Saudi Aramco to include existing development programmes of advancing crude to chemicals technologies as well as through integrating existing facilities. This is done by taking into consideration both companies future plans and opportunities. SABIC and Saudi Aramco are looking at opportunities for integration with existing facilities to maximise the economic value while evaluating the optimal technical options and market risks.

Consequently, both parties intend to re-evaluate the scope of the COTC complex project and study the integration of Saudi Aramco’s existing refineries in Yanbu with a world-scale mixed feed steam cracker and downstream olefin derivative units.

SABIC and Saudi Aramco remain committed to continue advancing crude to chemicals technologies through existing development programmes with the goal to increase cost efficiency, competitiveness and value creation opportunities for petrochemicals.

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