ExxonMobil, Aramco and Samref have signed a Venture Framework Agreement (VFA) to evaluate a major upgrade of the Samref refinery in Yanbu and expand it into an integrated petrochemical complex. This move marks an important step toward strengthening the facility’s long-term competitiveness.
Plans to Boost Production and Reduce Emissions
As part of the evaluation, the companies will explore capital investments to upgrade and diversify output, including high-quality distillates that support lower-emission performance. They will also assess new opportunities to enhance energy efficiency and reduce emissions through an integrated strategy across refinery operations.
Strengthening a Long-Standing Partnership
Mohammed Y. Al Qahtani, Aramco Downstream President, said the next phase of Samref represents “a step in our long-term strategic collaboration with ExxonMobil.” He added that the project is designed to convert more crude oil and petroleum liquids into high-value chemicals. This will reinforce Aramco’s liquids-to-chemicals strategy and position Samref as a key contributor to the Kingdom’s growing petrochemical industry.
Aligning with Global Energy and Low-Emission Priorities
Jack Williams, Senior Vice President at Exxon Mobil Corporation, stated that the company values its long partnership with Aramco and its decades-long presence in Saudi Arabia. He noted that the proposed project aligns with ExxonMobil’s strategy to invest in high-value products that meet evolving energy needs while supporting a lower-emission future.
Preliminary Engineering and Design Work to Begin
The companies will now begin preliminary front-end engineering and design (pre-FEED) for the proposed expansion. As per the press release, this phase aims to maximize operational strengths and enhance Samref’s competitiveness. It will also address the rising demand for high-quality petrochemical products in the Kingdom. All plans remain subject to market conditions, regulatory approvals and final investment decisions by Aramco and ExxonMobil.
