Aramco, ExxonMobil, Samref Sign Framework Agreement to Upgrade Samref Refinery, Establish New Petrochemicals Complex

Aramco, ExxonMobil, and Samref have signed a Framework Agreement to evaluate major development works for the Samref refinery in Yanbu and expand it into an integrated petrochemicals complex.
 The companies will explore capital investments to upgrade and diversify production, including high-quality distillates to help reduce emissions and high-performance chemicals, as well as opportunities to enhance energy-consumption efficiency at the refinery and reduce emissions from its operations through an integrated emissions-reduction strategy.
 Commenting on the agreement, Aramco Downstream President Mohammed Y. Al Qahtani said, “This phase of the Samref project represents an advanced step in our long-term strategic collaboration with ExxonMobil. The project is designed to increase the conversion of crude oil and petroleum liquids into high-value chemicals, reinforcing our commitment to value creation in the Downstream sector and our liquids-to-chemicals strategy. It will also contribute to strengthening Samref’s position as a driver of growth for the petrochemicals sector in the Kingdom.”
 ExxonMobil Senior Vice President Jack Williams said, “We value our partnership with Aramco and our long history in the Kingdom of Saudi Arabia. We look forward to evaluating this project, which aligns with our strategy that focuses on investments enabling us to develop high-value products that meet society’s evolving energy needs and contribute to a lower-emission future.”
 The companies will begin the preliminary front-end engineering and design phase for the proposed project, aiming to maximize operational benefits, enhance Samref’s competitiveness, and help meet the growing demand for high-quality petrochemical products in the Kingdom. The proposed refinery development and petrochemicals expansion plan will be subject to market conditions, regulatory approvals, and final investment decisions by Aramco and ExxonMobil.
 Samref is a joint venture equally owned by Aramco and Mobil Yanbu Refining Company Inc., a wholly owned subsidiary of ExxonMobil.
 Samref currently has the capacity to process more than 400,000 barrels of crude oil per day and produce a wide range of energy products, including propane, automotive diesel oil, marine heavy fuel oil, and sulphur.