- Biggest ever Aramco investment in South Korea contributes to a stable supply of feedstock
- First commercial deployment of Aramco’s TC2C™ thermal crude to chemicals technology developed in collaboration with Lummus Technology
- S-OIL’s chemical yield based on volume anticipated to almost double to 25% upon project completion
DHAHRAN, Saudi Arabia, Nov. 17, 2022 /PRNewswire/ — Aramco is making its biggest ever investment in South Korea to develop one of the world’s largest refinery-integrated petrochemical steam crackers through its S-OIL affiliate, in line with the company’s strategy to maximize the crude to chemicals value chain.
The $7 billion Shaheen project aims to convert crude oil into petrochemical feedstock and would represent the first commercialization of Aramco and Lummus Technology’s TC2C thermal crude to chemicals technology, which increases chemical yield and reduces operating costs. It follows an $4 billion investment into the first phase of the petrochemical expansion completed in 2018.
Located at S-Oil’s existing site in Ulsan, the new plant is planned to have the capacity to produce …