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Saudi Arabia: Total’s $9bn petrochem deal

French oil giant Total has signed a memorandum of understanding with Saudi Aramco to build a giant petrochemicals complex in Jubail, alongside the two companies’ existing Satorp efinery. Ownership of the Satorp joint venture is split between Aramco (62.5%) and Total (37.5%); the plant has 440,000 b/d capacity. The new petrochemicals project, entitled Amiral, is designed to exploit potential synergies and will have a mixed-feed steam cracker with a capacity of 1.5m t/yr of ethylene and other related high- value-add units.

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