SEATTLE (Oil Monster): ExxonMobil, Aramco and Samref have signed a Venture Framework Agreement (VFA) to assess a major upgrade of the Samref refinery in Yanbu and explore expanding it into an integrated petrochemical complex. The study will focus on modernizing operations, increasing the production of high-quality distillates and developing advanced chemical products that support lower-emission outcomes.
As part of the evaluation, the companies will explore capital investments aimed at improving efficiency and reducing emissions through a comprehensive, integrated reduction strategy. The proposed enhancements are designed to strengthen Samref’s long-term competitiveness and support rising demand for high-performance petrochemical products in Saudi Arabia.
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Aramco Downstream President Mohammed Y. Al Qahtani said the project reflects the company’s commitment to growing its downstream business and advancing its liquids-to-chemicals strategy, adding that the new phase would position Samref as a key contributor to the Kingdom’s petrochemical expansion.
ExxonMobil Senior Vice President Jack Williams emphasized the company’s long-standing partnership with Aramco, noting that the initiative aligns with its focus on high-value products that meet evolving global energy needs.
A preliminary front-end engineering and design phase will now begin. Final investment decisions will depend on market conditions and regulatory approvals.
