ExxonMobil, Aramco, Samref Sign Agreement for Refinery Upgrade and Petrochemical Expansion
- The Venture Framework Agreement evaluates upgrading Samref refinery and expanding into a petrochemical complex.
- The project aims to produce high-quality distillates and high-performance chemicals with lower emissions.
- Preliminary front-end engineering and design phase will begin, subject to market conditions and regulatory approvals.
- Samref processes over 400,000 barrels of crude oil daily, producing products like propane and automotive diesel oil.
Agreement Overview
ExxonMobil, Aramco, and Samref have signed a Venture Framework Agreement to assess upgrading the Samref refinery in Yanbu and expanding it into an integrated petrochemical complex. The focus is on capital investments to enhance production and diversify outputs.
Project Goals
The companies aim to produce high-quality distillates and high-performance chemicals with lower emissions. They will explore opportunities to improve the refinery's energy efficiency and reduce emissions through an integrated strategy.
Engineering and Design Phase
A preliminary front-end engineering and design phase will commence to maximize operational advantages and enhance Samref's competitiveness. The plans are contingent on market conditions, regulatory approvals, and final investment decisions by Aramco and ExxonMobil.
Current Operations
Samref, a joint venture between Aramco and Mobil Yanbu Refining Company Inc., processes over 400,000 barrels of crude oil per day. It produces a range of energy products, including propane, automotive diesel oil, marine heavy fuel oil, and sulphur.
Source: Aramco