Saudi Aramco, the state-owned oil company of Saudi Arabia, and Total, a French oil and gas company, have announced the start of joint work on the development of documentation for a petrochemical complex in Al Jubail. As previously reported, the new complex will be integrated with the existing SATORP refinery, with a capacity of 440,000 barrels per day. The share owned by Saudi Aramco in the existing plant is 62.5%, the share of Total is 37.5%. About 9 billion dollars will be invested in the new complex, the launch of which is planned for 2024. The project should help diversify the economy of Saudi Arabia.
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