Wood has announced that it had won a contract to develop the world’s largest crude oil to chemicals project for Saudi Aramco and SABIC.
Wood has been selected to develop the world’s largest fully integrated crude oil to chemicals (COTC) complex in the Kingdom of Saudi Arabia, on behalf of Saudi Aramco and SABIC as the first PMC contractor.
Wood will provide front end engineering design (pre-FEED and FEED) and project management services during the engineering, procurement and construction (EPC) phase, supporting the development of the complex that is expected to process 400,000 barrels per day and approximately nine million tons of chemicals and base oils annually.
The contract is expected to continue through to the start of operations, forecast for 2025. It will be executed from Wood’s Reading and Al-Khobar offices.
Robin Watson, Wood’s chief executive: “We are proud to have been selected to be a contractor with Saudi Aramco and SABIC to deliver this significant greenfield onshore facility that will be a first for Saudi Arabia and among the first in the world to integrate the refinery and chemical process in this way.
“Our close collaboration with the in-country supply chain and the creation of opportunities to nurture new industry talent in Saudi Arabia, will be central to our execution of this contract.”
Amin H. Al-Nasser, President and CEO of Saudi Aramco, said: "The complex will have a great economic impact and will create thousands of direct and indirect job opportunities for Saudis. In addition, the complex offers synergy and conversion of the strategic goals and objectives of Saudi Aramco and SABIC. It will be capable of maximizing chemical yield, recycling byproducts, optimising resources and driving efficiencies of scale.”
Yousef Al-Benyan, SABIC Vice Chairman & CEO, added: “I am very happy and optimistic to see the timely delivery of this key milestone in the strategic COTC project, which through an innovative configuration will generate the world's highest proven yield conversion rate of oil to chemicals in a competitive and sustainable way.”