Saudi Aramco, China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) have signed a venture framework agreement (VFA) to expand Yasref’s petrochemical operations at Yanbu, on Saudi Arabia’s west coast.
The agreement aims to undertake technical studies for a fully integrated petrochemical complex at Yasref, a joint venture between Aramco (62.5%) and Sinopec (37.5%).
The project will include a petrochemical unit, a large-scale mixed feed steam cracker with a capacity of 1.8 million tonnes per year, and an aromatics complex capable of producing 1.5 million tonnes per year, all integrated into the Yasref complex.
The measure is likely to help Yasref fulfill the increased demand for high-quality petrochemical goods.
Aramco and Sinopec have several joint ventures, including Sinopec Senmei (Fujian) Petroleum Company, Sinopec SABIC Tianjin Petrochemical Company, Fujian Refining & Petrochemical Company, and a new integrated refining and petrochemical complex in Fujian Province, China.