Aramco, Total sign $5bn MoU to build “giant” petrochemical project

Paris – Saudi Aramco and French energy company Total SA have signed a memorandum of understanding to build a “giant petrochemical complex” in Jubail, Saudi Arabia.

The complex will be integrated downstream of the SATORP refinery, a joint venture between Saudi Aramco and Total, the French company announced 10 April.

Saudi Aramco owns 62.5% and Total 37.5% of the SATORP JV in Jubail.

The $5bn (€4 billion) investment will comprise a “world-size” mixed-feed steam cracker with a capacity of 1.5…

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