Saudi Aramco, SABIC award oil-to-chemicals project contract to KBR

Business Thursday 26/April/2018 12:40 PM
By: Times News Service
Saudi Aramco, SABIC award oil-to-chemicals project contract to KBR

Riyadh: Saudi Basic Industries Corp (SABIC) said on Thursday that it and Saudi Aramco, its partner in a crude oil-to-chemicals project, have awarded a contract to U.S. engineering company KBR, for the project's management and front-end engineering and design.
In November, SABIC, the world's fourth-biggest petrochemicals company, and state-run Aramco, the world's largest oil firm, signed a deal to build a chemicals complex to convert 45 percent of crude oil to chemicals directly.
The multi-billion-dollar project, which the partners said would be the largest crude-to-chemicals facility in the world and the first in Saudi Arabia, are part of the Saudi government's effort to diversify the economy beyond exporting crude oil.