Riyadh – Mubasher: Saudi Aramco will sign on Monday an agreement with French oil major Total to implement engineering and design operations for petrochemical complex at Jubail Industrial City.
The complex will be established near Aramco Total Refining and Petrochemical Company’s (SATORP) refinery.
On a related note, the largest international oil firm owns a 62.5% stake in SATORP, while the French company owns a 37.5% stake.
In April, the two parties inked a memorandum of understanding (MoU) at a value of SAR 19.5 billion to build a large petrochemical complex in the Kingdom that will include a giant mixed-feed steam cracker, with expected investments at $9 billion.
During April, Aramco also signed eight deals with French firms at a value of $12 billion to boost mutual collaboration.
