Saudi Basic Industries Corp. (SABIC) said on April 26 that it and Saudi Aramco, its partner in a crude oil-to-chemicals project, have awarded a contract to U.S. engineering company KBR (NYSE: KBR), for the project’s management and FEED.
In November, SABIC and state-run Aramco signed a deal to build a chemicals complex to convert 45% of crude oil to chemicals directly.
The multibillion dollar project, which the partners said would be the largest crude-to-chemicals facility in the world and the first in Saudi Arabia, are part of the Saudi government’s effort to diversify the economy beyond exporting crude oil.
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