ExxonMobil, Sabic conducts study proposed US petrochemical project

ExxonMobil, Sabic conducts study for proposed US petrochemical project

11:37 AM, 22nd May 2017
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RIYADH, Saudi Arabia: Affiliates of ExxonMobil Corporation (XOM) and Sabic has signed an agreement to conduct a detailed study of the proposed Gulf Coast Growth Ventures project in Texas and begin planning for front-end engineering and design (FEED) work.

The agreement was signed in the presence of Yousef Al-Benyan, Sabic vice chairman and CEO; Philippe Ducom, president, chairman and CEO of ExxonMobil Saudi Arabia Inc. Also in attendance were Prince Saud bin Abdullah bin Thenayan Al-Saud, Sabic chairman and Darren Woods, chairman and CEO of Exxon Mobil Corporation.

In April 2017, ExxonMobil and Sabic selected a site in San Patricio County, Texas, for the proposed petrochemical complex that would include an ethane steam cracker capable of producing 1.8 million tonnes of ethylene per year, a monoethylene glycol unit and two polyethylene units.

The project is one of 11 major chemical, refining, lubricant and liquefied natural gas projects associated with ExxonMobil’s Growing the Gulf initiative in US that have been made possible by the abundance of low-cost US natural gas.

ExxonMobil’s projects, once completed and operating at mature levels, are expected to have far-reaching and long-lasting benefits. Projects planned or under way are expected to create more than 35,000 construction jobs and more than 12,000 full-time jobs.

“This agreement represents an important step in the progression of the Gulf Coast Growth Ventures project. We have a long and successful relationship with Sabic, which will be enhanced by this potential project that will create value for our companies and our communities,” said Ducom.

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