The Chief Executive of Total South Africa, Patrick Pouyanne, on Tuesday confirmed the French company’s intention to enlarge its refinery joint venture with state oil giant, Saudi Aramco.
“We are planning to enlarge our joint venture with Saudi Aramco. We have a very big refinery there and the next step in order to add value is to enter into chemicals and petrochemicals.
“Not only will we invest, but we will ask other companies to participate,” Pouyanne said at a Franco-Saudi economic forum in Paris.
Sources told Reuters last week that the agreement would include an extension of the petrochemical complex at Saudi Arabia Total Refining and Petrochemical (SATORP) refinery in Jubail and could also include adding a cracker unit.