Saudi Aramco and Sabic have signed an MoU for preliminary work on a crude oil to chemicals (COTC) project intended to process 400,000 b/d of crude to produce 9mn t/y of chemicals and base oils.
Aramco CEO Amin Nasser says the companies will go 50:50, with a final investment decision slated for end-2019 with a view to 2025 start up. The estimated cost of $20bn would make it one of the priciest infrastructure projects anywhere, ever. (CONTINUED - 818 WORDS)
