Saudi Aramco Signs, Discusses Agreements With French Companies -- Update
10 Avril 2018 - 7:14PM
Dow Jones News
(Adds information on agreements discussed and total value of
arrangements)
By Anthony Shevlin
Saudi Aramco said Tuesday that it has signed and discussed a
number of cooperation arrangements and prospective commercial
collaborations worth over $12 billion with French companies at the
Saudi-France CEO Forum in Paris.
Saudi Aramco said one of the major agreements includes a
memorandum of understanding with Total SA (FP.FR) worth $9 billion
for the joint development of a petrochemicals complex integrated
with existing Satorp refinery in Jubail, Saudi Arabia.
In a separate statement, Total said the complex will be
integrated downstream of the Satorp refinery, a joint venture
between Saudi Aramco, holder of a 62.5% stake, and Total, which
owns 37.5%. The complex will have a mixed-feed steam cracker with a
capacity of 1.5 million tons a year of ethylene and related
high-added-value petrochemical units, Total said. Front-end
engineering and design is expected to begin in the third quarter of
2018, it said.
Saudi Aramco said it discussed commercial collaborations with
other French companies such as Veolia Environnement SA (VIE.FR),
Suez SA (SEV.FR) and Schneider Electric SE (SU.FR).
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
April 10, 2018 12:59 ET (16:59 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
