Saudi Aramco CEO Amin H. Nasser said: “The petrochemicals sector has been undergoing significant growth globally and is one of the future growth engines. Thus, SATORP’s second-phase expansion represents a significant value addition in Saudi Aramco’s downstream strategy to maximize the full value of our vast resources portfolio and position the Kingdom as a chemicals manufacturing and exports hub, supporting economic growth and diversification as part of Vision 2030.” Nasser added: “Today’s signing with our partner Total will deliver on multiple levels, from high-value fuels and petrochemical products never manufactured in the Kingdom before, destined for consumers on three continents to meaningful job creation for Saudi men and women and local content development. Our partnership with Total has evolved from a buyer-seller relationship of crude oil to one that has progressed to a strong long term partnership through SATORP and today we’re pleased to commemorate another major milestone as part of the SATORP journey.” Patrick Pouyanné, Chairman and Chief Executive Officer of Total said: “We are delighted to write a new page of our joint history by launching a new giant project, building on the successful development of SATORP, our biggest and most efficient refinery in the world. This world-class complex also fits with our strategy to expand in petrochemicals by maximizing the synergies within our major platforms, leveraging low-cost feedstocks and taking advantage of the fast growing Asian polymer market.” Following the signature of a memorandum of understanding (MoU) in April 2018, Saudi Aramco and Total have also reaffirmed today their commitment towards the joint development of fuel retail operation in Saudi Arabia. --SPA 20:36 LOCAL TIME 17:36 GMT 0038 www.spa.gov.sa/w762825