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Aramco and TotalEnergies award contracts for $11 billion Amiral project

DOWNSTREAM CENTRAL ASIA AND CASPIAN

Aramco and TotalEnergies award contracts for $11 billion Amiral project

Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion "Amiral" complex, a future world-scale petrochemicals facility expansion at the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, and Patrick Pouyanné, TotalEnergies Chairman and CEO.

Source: Aramco

The award of EPC contracts for main process units and associated utilities marks the start of construction work on the joint petrochemical expansion, following the final investment decision in December 2022. Integrated with the existing SATORP refinery in Jubail, the new complex aims to house one of the largest mixed-load steam crackers in the Gulf, with a capacity to produce 1,650 kilotons per annum of ethylene and other industrial gases.

This expansion is expected to attract more than $4 billion in additional investment in a variety of industrial sectors, including carbon fibers, lubes, drilling fluids, detergents, food additives, automotive parts and tires. It is also expected to create around 7,000 local direct and indirect jobs.

Today we are taking a major step forward in further strengthening the partnership between TotalEnergies and Aramco, with the SATORP expansion project being the latest in a longstanding history of collaboration of almost five decades between both companies. As part of Aramco’s growth strategy, the project is anticipated to contribute to value-addition opportunities in the Kingdom’s downstream ecosystem, and we thank the Ministry of Energy and the Ministry of Investment for their tremendous support via the Shareek program to make this multi-billion-dollar project a reality.

Amin H. Nasser, President & CEO, Aramco

The signing ceremony was also attended by HE Won Hee-ryong, Minister of Land, Infrastructure and Transport of South Korea, government officials from Saudi Arabia, France and South Korea and company executives from Aramco, TotalEnergies and EPC firms.

This landmark opens a new page in our shared history with Aramco, which we are delighted to be associated with once again. This expansion project reinforces the exemplary relationship that our two companies have enjoyed for several decades in the Kingdom of Saudi Arabia. We would like to thank the Ministry of Energy of the Kingdom of Saudi Arabia for its support throughout the development of this world-class project.

Patrick Pouyanné, Chairman and CEO, TotalEnergies

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