Aramco, ExxonMobil and Samref have signed a framework agreement to evaluate significant development works at the Samref refinery in Yanbu as part of plans to expand it into an integrated petrochemicals complex.
The study will examine potential capital investments aimed at upgrading and diversifying production, including high-quality distillates to help reduce emissions and high-performance chemicals.
According to the partners, the work will also explore opportunities to improve energy consumption at the facility and reduce emissions through a unified reduction strategy. The agreement marks the latest step in the long-standing collaboration between Aramco and ExxonMobil, who jointly own Samref.
Aramco, ExxonMobil plan Samref expansion
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 now begin the preliminary front-end engineering and design phase for the proposed project. This stage will focus on maximising operational gains, improving Samref’s competitiveness and supporting rising domestic demand for petrochemical products. Any final development plan will depend on market conditions, regulatory approvals and 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.
The refinery currently processes more than 400,000 barrels of crude oil per day and produces a range of energy products, including propane, automotive diesel oil, marine heavy fuel oil and sulphur.
