Saudi Aramco, SABIC award oil-to-chemicals project contract to KBR

RIYADH (Reuters) - Saudi Basic Industries Corp (SABIC) said that it and Saudi Aramco, its partner in a crude oil-to-chemicals project, have awarded a contract to U.S. engineering company KBR, for the project’s management and front-end engineering and design.

In November, SABIC, the world’s fourth-biggest petrochemicals company, and state-run Aramco, the world’s largest oil firm, signed a deal to build a chemicals complex to convert 45 percent of crude oil to chemicals directly.

The multi-billion-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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