Oil and Gas projects in Saudi Arabia

Crude Oil To Chemicals (COTC) Saudi Arabia

Description

Plans by Aramco and Saudi Basic Industries Corp. (SABIC) to develop a plant converting crude oil directly to chemicals have attracted strong interest since being separately floated by the companies in the first half of the decade. Anticipation around the so-called Crude Oil To Chemicals (COTC) scheme has surged since the signature of a heads of agreement (HoA) by the parastatal counterparts in June 2016 to co-operate on developing the plant. The facility is expected to be located at either Jubail or Yanbu.

Recent Updates

  • 13 November 2018 - Aramco and SABIC have announced that the COTC plant will be located at Yanbu....
  • 30 March 2018 - In January, Aramco signed a joint development agreement with the US’ CB&I and subsidiary Chevron L...
  • 21 March 2018 - Wood has been selected as the first PMC contractor to work on the crude oil to chemicals (COTC) comp...

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