Saudi Aramco and SABIC have awarded the US engineering company KBR, for the project’s management and front-end engineering and design. In November, SABIC and state-run Aramco signed a deal to convert crude oil to chemicals directly.
Aramco and SABIC forecast that this will be a key venture that contributes to the GDP of the kingdom by 2030.
Saudi Aramco President and CEO Amin H. Nasser said Thursday: “We are effectively moving forward with the implementation of our strategies and plans towards further integration and value creation.
The award of this second project management contract to KBR not only strengthens the project with additional world-class experience, but is yet another milestone in the Kingdom’s continuous drive to redirect and optimize its abundant natural resources and maximize its chemicals yield.”
Yousef Al-Benyan, SABIC Vice-Chairman and Chief Executive Officer said: “This contract award to KBR is a major advance by the two leading industrial companies in Saudi Arabia towards establishing a large petrochemical facility in support of Saudi Arabia’s vision of creating job opportunities, initiating new industrial technologies, and diversifying the product portfolio.”
