Aramco, ExxonMobil, and Samref have signed a Framework Agreement to jointly assess significant development plans for the Samref refinery in Yanbu, with the goal of transforming it into an integrated petrochemicals complex.
Under the agreement, the partners will explore major capital investments aimed at modernizing and diversifying the facility’s output. Additionally, this includes producing higher-quality distillates that support emissions reduction, expanding into advanced performance chemicals, and identifying opportunities to improve energy efficiency and lower operational emissions through a unified reduction strategy.
Aramco
Aramco Downstream President Mohammed Y. Al Qahtani said, “This phase of the Samref project marks an important step forward in our long-standing partnership with ExxonMobil. It is designed to boost the conversion of crude oil and petroleum liquids into high-value chemicals, strengthening our commitment to driving value in the Downstream sector and advancing our liquids-to-chemicals strategy. It will also reinforce Samref’s role as a key contributor to petrochemicals growth in the Kingdom.”
ExxonMobil
ExxonMobil Senior Vice President Jack Williams added, “We value our partnership with Aramco and our deep history in the Kingdom of Saudi Arabia. We look forward to evaluating this project, which supports our strategy to invest in high-value products that meet evolving global energy needs while contributing to a lower-emission future.”
The companies will now proceed with the preliminary front-end engineering and design phase of the proposed development, aiming to maximize operational value, elevate Samref’s competitiveness, and help meet rising demand for premium petrochemical products in the Kingdom. Moreover, the refinery upgrade and petrochemicals expansion will be contingent on market conditions, regulatory approvals, and final investment decisions by Aramco and ExxonMobil.
Samref
Samref is a 50/50 joint venture between Aramco and Mobil Yanbu Refining Company Inc., a wholly owned ExxonMobil subsidiary. The refinery currently processes more than 400,000 barrels of crude oil per day, producing a broad slate of energy products including propane, automotive diesel, marine heavy fuel oil, and sulphur.
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