REG-TotalEnergies SE Aramco and TotalEnergies Award Contracts for $11 billion Amiral Project

TotalEnergies SEAnnouncement

26/06/2023 07:00

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Aramco and TotalEnergies Award Contracts for $11 billion Amiral Project

 

Aramco and TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) today awarded
Engineering, Procurement and Construction (EPC) contracts for the $11 billion
"Amiral" complex, a future world scale petrochemicals facility expansion at
the SATORP refinery in the Kingdom of Saudi Arabia. A signing ceremony took
place in Dhahran attended by Amin H. Nasser, Aramco President and CEO, and
Patrick Pouyanné, TotalEnergies Chairman and CEO.

The award of EPC contracts for main process units and associated utilities
marks the start of construction work on this joint project, following the
final investment decision in December 2022. Integrated with the SATORP
existing refinery in Jubail, the new petrochemical complex will house the
largest mixed-load steam cracker in the Gulf, with a capacity to produce 1.65
million tons of ethylene and other industrial gases per year.

This expansion is expected to attract more than $4 billion in additional
investment in a variety of industrial sectors (carbon fibers, lubes, drilling
fluids, detergents, food additives, automotive parts and tires) and create
around 7,000 direct and indirect jobs in the country.

Amin H. Nasser, Aramco President & CEO, said: “Today we are taking a
major step forward in further strengthening the partnership between
TotalEnergies and Aramco, with the SATORP expansion project being the latest
in a longstanding history of collaboration of almost five decades between both
companies. As part of Aramco’s growth strategy, the project is anticipated
to contribute to value-addition opportunities in the Kingdom’s downstream
ecosystem, and we thank the Ministry of Energy and the Ministry of Investment
for their tremendous support via the Shareek program to make this
multi-billion-dollar project a reality.”

Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies said:
“This landmark opens a new page in our shared history with Aramco, which we
are delighted to be associated with once again. This expansion project
reinforces the exemplary relationship that our two companies have enjoyed for
several decades in the Kingdom of Saudi Arabia. We would like to thank the
Ministry of Energy of the Kingdom of Saudi Arabia for its support throughout
the development of this world-class project.”

The EPC contracts were awarded to:


 * Hyundai Engineering & Construction Co. Ltd — for a mixed feed cracker
and utilities, with a nameplate capacity of 1,650 kta of ethylene and related
industrial gases, and utilities, flares and interconnecting systems that
support main packages within the facilities.

 * Maire Tecnimont — for two polyethylene units using Advanced Dual Loop
technology, with a nameplate capacity of 500 kta each, and the derivative
units.

 * Sinopec Engineering Group Saudi Co. Ltd — for Tank Farm and SATORP
integration.

 * Gulf Consolidated Contractors Co. — for the transfer pipelines.

 * Mohammed Ali Al-Suwailem Trading and Contracting Co. – for industrial
support facilities.

 * Mofarreh Marzouq Al Harbi and Partners Co. Ltd – for site preparation.

 * Mobarak M. AlSalomi and Partners for Cont. Co – for temporary construction
facilities.

***

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

About Aramco

Aramco is a global integrated energy and chemicals company. We are driven by
our core belief that energy is opportunity. From producing approximately one
in every eight barrels of the world’s oil supply to developing new energy
technologies, our global team is dedicated to creating impact in all that we
do. We focus on making our resources more dependable, more sustainable and
more useful. This helps promote stability and long-term growth around the
world. www.aramco.com
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TotalEnergies Contacts 

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
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entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
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SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
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future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Registration Document, the French-language version of which is filed by
TotalEnergies SE with the French securities regulator Autorité des Marchés
Financiers (AMF), and in the Form 20-F filed with the United States Securities
and Exchange Commission (SEC).



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