Saudi Aramco builds a petrochemical project in Korea

Saudi Aramco announced that it will invest 9.
3 trillion won ($7 billion) in Ulsan, South Korea, through its South Korean holding company S-Oil, which includes a 1.
8 million mt/year mixed-feedstock cracking facility that can produce chemicals
from a variety of feedstocks, including crude oil.
The project is Saudi Aramco's largest investment
in South Korea.
Saudi Aramco said it will be the first commercialization
of the company's hot crude oil to chemicals (TC2C) technology.

The Shaheen petrochemical project, which will be located at S-Oil's existing production site in Ulsan, will produce about 3.
2 million mt/year of petrochemicals by 2026, including 580,000 mt/year of ethylene, 770,000 mt/year of propylene, 200,000 mt/year of butadiene and 280,000 mt/year of benzene and a handful of other products, as well as an 880,000 mt/year linear low-density polyethylene (LLDPE) unit and a 440,000 mt/year high-density polyethylene (HDPE) unit, S-Oil said
。

Saudi Aramco said the project means that Saudi Aramco and Rumus Technologies officially put the TC2C technology into use
.
The project will improve chemical yields and reduce operating costs
.
Saudi Aramco's TC2C technology is commercialized for the first time and will further optimize refining and chemical processes
, said Aramco's President and CEO Amin Nasser.
Saudi Aramco aims to create a more efficient, competitive and sustainable growth platform while paving the way
for further downstream expansion.