Aramco, TotalEnergies sign $11 billion contract to build petrochemicals complex in Saudi Arabia

The expansion is expected to attract more than $4 billion in additional investment

Last updated: June 24, 2023 | 14:48

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A signing ceremony took place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, and TotalEnergies Chairman and CEO Patrick Pouyanné.

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Riyadh: Saudi Arabian Oil Company (Aramco) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday.

“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,” the statement read.

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