ExxonMobil, Aramco, and Samref are considering an upgrade of the Samref refinery in Yanbu, Saudi Arabia, and an expansion of the facility into an integrated petrochemical complex. The three companies have signed a venture framework agreement to evaluate the project.
The group will explore capital investments to upgrade and diversify production, including high-quality distillates that result in lower emissions and high-performance chemicals, as well as opportunities to reduce emissions from operations through an integrated emissions-reduction strategy.
“This next phase of Samref marks a step in our long-term strategic collaboration with ExxonMobil,” said Mohammed Y. Al Qahtani, president of Aramco Downstream. “Designed to increase the conversion of crude oil and petroleum liquids into high-value chemicals, this project reinforces our commitment to advancing downstream value creation and our liquids-to-chemicals strategy. It will also position Samref as a key driver in the growth of the Kingdom’s petrochemical sector.”
The companies will commence a preliminary front-end engineering and design phase for the proposed project, which would aim to maximize operational advantages, enhance Samref’s competitiveness, and help to meet growing demand for high-quality petrochemical products in the Kingdom. Plans are subject to market conditions, regulatory approvals, and final investment decisions by Aramco and ExxonMobil.
Samref is an equally owned joint venture between Aramco and Mobil Yanbu Refining Company Inc., a wholly owned subsidiary of Exxon Mobil Corporation. The refinery currently has the capacity to process more than 400,000 barrels of crude oil per day, producing a diverse range of energy products including propane, automotive diesel oil, marine heavy fuel oil, and sulphur.
