Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

Saudi Aramco’s Motiva Division Eyes Gulf Coast Petrochemical Complex

04/10/2018
Motiva Enterprises, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, reported it signed two Memos of Understanding, worth between $8 billion to $10 billion, with Honeywell UOP and TechnipFMC in Houston, Texas.The agreement paves the way to evaluate the use of TechnipFMC’s world scale mixed-feed ethylene production technologies in the U.S.

The second MOU enables Motiva to examine the use of UOP LLC’s world scale aromatics extraction and production technologies to develop a potential complex for benzene and paraxylene along the U.S. Gulf Coast.

According to Saudi Aramco, the “MOUs are a first step in Motiva’s expansion into petrochemicals. Final investment decisions on these projects are not expected to be made until 2019 and are dependent on strong economics, competitive incentives, and regulatory support.”

Saudi Aramco President & CEO Amin H. Nasser said, “For more than 85 years the Kingdom of Saudi Arabia and the United States have enjoyed a mutually beneficial relationship based upon the strong legacy and longstanding foundation established by the leaders of both nations.”

“We are especially honored for His Royal Highness (Crown Prince Mohammed bin Salman of Saudi Arabia) to witness the signing of MoUs and announcements that further strengthens Aramco’s commitment to supporting U.S. economic growth and development through Downstream investments, while also significantly investing in exploration and production technologies and innovative solutions aligned with Saudi Vision 2030 that will serve both our nations over the long term,” he added.

Article Discussion

Share