BRIEF-Aramco Affiliate S-Oil To Build One Of World’s Largest Petrochemical Crackers In South Korea

SAUDI ARABIAN OIL CO: * ARAMCO AFFILIATE S-OIL TO BUILD ONE OF WORLD'S LARGEST PETROCHEMICAL CRACKERS IN SOUTH KOREA

* THE $7 BILLION SHAHEEN PROJECT AIMS TO CONVERT CRUDE OIL INTO PETROCHEMICAL FEEDSTOCK * PROJECT WILL BE FIRST COMMERCIALIZATION OF ARAMCO AND LUMMUS TECHNOLOGY'S TC2C THERMAL CRUDE TO CHEMICALS TECHNOLOGY

* LOCATED AT S-OIL'S EXISTING SITE IN ULSAN, NEW PLANT PLANNED TO HAVE CAPACITY TO PRODUCE UP TO 3.2 MILLION TONS OF PETROCHEMICALS ANNUALLY * NEW PLANT INCLUDE A FACILITY TO PRODUCE HIGH-VALUE POLYMERS

* SAUDI ARAMCO- PROJECT IS EXPECTED TO START IN 2023 AND BE COMPLETED BY 2026 * STEAM CRACKER IS EXPECTED TO PROCESS BY-PRODUCTS FROM CRUDE PROCESSING, INCLUDING NAPHTHA AND OFF-GAS, TO PRODUCE ETHYLENE

* PLANT IS ALSO EXPECTED TO PRODUCE PROPYLENE, BUTADIENE AND OTHER BASIC CHEMICALS * NEW STEAM CRACKER IS PLANNED TO USE MIXED FEEDSTOCKS, OUTPERFORMING NAPHTHA-BASED CRACKERS IN TERMS OF OVERALL EFFICIENCY AND PERFORMANCE

* UPON PROJECT COMPLETION, S-OIL CHEMICAL YIELD BASED ON VOLUME COULD ALMOST DOUBLE TO 25% Further company coverage:

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