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

  • Date: 23-Oct-2020
  • Source: Arabian Industry
  • Sector:Oil & Gas
  • Country:Saudi Arabia
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Saudi Aramco, Sabic reevaluate COTC project, expand scope to include existing facilities at Yanbu

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