Saudi Aramco announced on Wednesday that over 90 percent of Jazan refinery project has been completed.
The refinery is expected to enter operation and production next year, with the recent rearrangement of important facilities in the project, such as the gasification and power joint venture announced by the company on August 12.
Air Products will own at least 55 percent of the joint venture, with Aramco and ACWA Power owning the balance.
The venture will own and operate the facility under a 25-year contract for a fixed monthly fee. Saudi Aramco will supply feedstock to the JV, and the JV will produce power, hydrogen and other utilities for Saudi Aramco.
Saudi Minister of Energy, Industry and Mineral Resources Engineer Khalid al-Falih visited Jazan Economic City (JEC) to review the progress of the project.
The Minister toured the facilities of Aramco refinery complex, during which he met with the staff who briefed him on the latest developments.
Jazan Refinery and terminal at JEC is a megaproject that will process heavy and medium crude oil to create liquefied petroleum gas, sulfur, asphalt, benzene and paraxylene. The new venture will add 400,000 barrels per day of refining capacity.
The consortium will increase job opportunities and transfer the most advanced technologies in this field to the country, and enable Saudi talent to employ this technology for the first time.
