Saudi Basic Industries Corporation (Sabic) has expanded the scope of converting crude oil to chemicals (COTC) project with Saudi Aramco to include existing development programmes of advancing crude to chemicals technologies as well as through integrating existing facilities.
This is done by taking into consideration both companies future plans and opportunities. Sabic and Saudi Aramco are looking at opportunities for integration with existing facilities to maximize the economic value while evaluating the optimal technical options and market risks, Sabic said in a statement on its website.
Consequently, both parties intend to re-evaluate the scope of the COTC complex project and study the integration of Saudi Aramco’s existing refineries in Yanbu with a world-scale mixed feed steam cracker and downstream olefin derivative units.
Sabic and Saudi Aramco remain committed to continue advancing crude to chemicals technologies through existing development programs with the goal to increase cost efficiency, competitiveness and value creation opportunities for petrochemicals.
On November 26, 2017, Sabic and Saudi Aramco signed a memorandum of understanding with to study the feasibility of developing an industrial complex to convert crude oil to chemicals.