Affiliates of Exxon Mobil Corporation and SABIC signed an agreement during the Saudi-US CEO Forum in Riyadh in the presence of Yousef Al-Benyan, vice chairman and CEO, SABIC, and Philippe Ducom, president, chairman and CEO, ExxonMobil Saudi Arabia Inc. to conduct a detailed study of the proposed Gulf Coast Growth Ventures project in Texas and begin planning for front-end engineering and design work.
This agreement represents an important step in the progression of the Gulf Coast Growth Ventures project, said Ducom. They have a long and successful relationship with SABIC, which will be enhanced by this potential project that will create value for their companies and communities.
In April 2017, ExxonMobil and SABIC selected a site in San Patricio County, Texas, for the proposed petrochemical complex that would include an ethane steam cracker capable of producing 1.8 million tonnes of ethylene per year, a monoethylene glycol unit and two polyethylene units.
The project is one of the 11 major chemical, refining, lubricant and liquefied natural gas projects associated with ExxonMobilâ€™s â€˜Growing the Gulfâ€™ initiative in the US that have been made possible by the abundance of low-cost US natural gas.
ExxonMobilâ€™s projects, once completed and operating at mature levels, are expected to have far-reaching and long-lasting benefits.
ExxonMobil and SABIC have successfully collaborated on several petrochemical joint ventures in Saudi Arabia, including the Al-Jubail Petrochemical Company and Saudi Yanbu Petrochemical Company.
Most recently, the companies constructed world-scale specialty elastomers facilities at the Al-Jubail joint venture complex to help meet the growing demand for rubber-based industrial and automotive products.
Projects planned or under way are expected to create more than 35,000 construction jobs and more than 12,000 full-time jobs.
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