Saudi Aramco and Total Energies will build refineries in the Persian Gulf

Saudi Arabia’s national oil company Saudi Aramco and France’s Total Energies have signed an agreement for $11 billion, which includes the construction of a new petrochemical complex. This is stated in a statement by Saudi Aramco, published on the organization’s website.

The statement noted that the new complex will be integrated into the structure of the existing SATORP oil refinery, which is located in the Al-Jubail industrial zone in eastern Saudi Arabia.

According to Saudi Aramco, the project will be one of the largest installations that will be able to carry out thermal cracking in the mixed phase. The planned production volume is 1.65 million tons of ethylene per year.