Middle East

Aramco and Sinopec Sign Memorandum of Understanding to Cooperate on Projects in Saudi Arabia

Dhahran Saudi Aramco on Wednesday signed a Memorandum of Understanding (MoU) with China Petrochemical Corporation (Sinopec) covering several areas of potential cooperation between the two parties in Saudi Arabia.

The MoU will outline the strategic cooperation path between Aramco and Sinopec and support the long-term relationship between the two companies and their existing joint ventures in China and the Kingdom.

Mohammed Al-Qahtani, Senior Vice President, Downstream, Aramco, said: Saudi Arabia. This latest collaboration will help further advance our strategic relationship with Sinopec into key areas of mutual interest within the Kingdom. ”

Sinopec Corp. President Yu Baocai said: The two companies have developed a fruitful cooperation and developed a deep friendship over the years. The signing of the MOU opens a new chapter of partnership in Saudi Arabia. The two companies will work together to renew the vitality of the Belt and Road Initiative and Vision 2030 and make new progress. ”

Broad areas of potential cooperation include: Evaluate refining and petrochemical integration opportunities. engineering, procurement, construction; collaboration across oilfield services, upstream and downstream technology, and carbon capture and hydrogen processes.

The companies will also discuss the opportunity to establish a local manufacturing hub at King Salman Energy Park.

This latest collaboration builds on existing joint ventures between the two companies, including China’s Fujian Refining and Petrochemical Company (FREP) and Sinopec Senmei (Fujian) Petroleum Company (SSPC) and Saudi Arabia’s Yanbu Aramco Sinopec Refining Company (YASREF). I’m here. – agency

https://saudigazette.com.sa/article/623615/BUSINESS/Aramco-Sinopec-sign-MoU-to-collaborate-on-projects-in-Saudi-Arabia?ref=rss&format=simple&link=link Aramco and Sinopec Sign Memorandum of Understanding to Cooperate on Projects in Saudi Arabia

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