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  • Written on 21.05.2014 - Industry
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SAUDI ARABIA: Sabic completing preliminary studies on planned oil-to-chemicals project

Saudi Basic Industries Corp. (Sabic) is nearing completion of preliminary studies for the construction of a new oil-to-chemicals (OTC) plant in Saudi Arabia, according to the U.S.-Saudi Arabian Business Council (SABC).

The facility, expected to be operational by the end of 2020, will process about 200,000 b/d of crude oil to produce downstream petrochemicals. The complex, for which an exact location was not disclosed, is expected to create about 100,000 new jobs.

"The OTC complex will set a new competitive standard and establish Saudi Arabia as a technology leader in the petrochemical industry," reported SABC quoting Sabic Chief Executive and Vice Chairman Mohamed Al-Mady.

"OTC technology allows for the conversion of crude oil to petrochemical products at the highest ever achieved conversion rate in a competitive and sustainable way," Al- Mady added.

The project will allow Sabic to develop advanced specialty chemicals in line with their 2025 strategic plan, the SABC added.

Source: Weekly "PetroChemical News", Durham, NC, USA; 19 May 2014
(Syed Rashid Ali, Karachi, Pakistan)


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