Saudi Aramco, the state-owned oil company of Saudi Arabia, and Total Energies, the French multinational oil and gas company, have signed a strategic agreement to develop a petrochemicals complex in the Kingdom of Saudi Arabia. The project, known as the “Amiral” complex, is a significant expansion of the existing SATORP refinery.
In a joint statement, Aramco and Total Energies announced that they have awarded Engineering, Procurement, and Construction (EPC) contracts worth $11 billion for the construction of the Amiral complex. This state-of-the-art facility will be a world-scale petrochemicals complex, contributing to the Kingdom’s diversification efforts and promoting economic growth.
The Amiral complex will be built within the SATORP refinery, which is located in Jubail Industrial City on the eastern coast of Saudi Arabia. The refinery is a joint venture between Saudi Aramco and Total Energies, boasting a capacity of 400,000 barrels per day.
According to the statement, this project will utilize the latest technologies to produce a wide range of petrochemical products, including polypropylene, a key component in various industries such as packaging, textiles, and automotive.
This collaboration between Saudi Aramco and Total Energies aligns with Saudi Arabia’s Vision 2030, which aims to diversify the country’s economy and reduce its dependence on oil. The development of the petrochemicals sector plays a crucial role in achieving these goals, as it creates job opportunities, fosters local industry growth, and generates revenue for the nation.
Saudi Aramco, being the world’s largest oil exporter, possesses the expertise and infrastructure necessary to support the growth of the petrochemicals industry. On the other hand, Total Energies brings its extensive experience in refining and petrochemicals operations, making this collaboration a formidable force in the industry.
This partnership signifies the continued trust and confidence international companies have in Saudi Arabia’s business environment and its potential for growth. It also highlights the Kingdom’s commitment to attracting foreign investments and cultivating strategic alliances to drive economic progress.
The Amiral complex is expected to commence operations in 2025 and is projected to create thousands of direct and indirect job opportunities in the Kingdom. With the establishment of this world-class petrochemicals facility, Saudi Arabia will strengthen its position as a leading player in the global petrochemicals market.
As the world transitions towards cleaner and more sustainable energy sources, the development of petrochemicals complexes like the Amiral project demonstrates Saudi Arabia’s determination to adapt and thrive in the evolving energy landscape. It also emphasizes the importance of strategic partnerships between global industry leaders to shape the future of the energy sector.
In conclusion, the collaboration between Saudi Aramco and Total Energies to build the Amiral petrochemicals complex signifies a significant milestone in Saudi Arabia’s journey towards economic diversification and sustainable growth. This multi-billion-dollar project will contribute to the nation’s petrochemicals sector, creating employment opportunities and driving overall economic prosperity.
