Saudi Aramco also signed a memorandum of understanding (MoU) with Saudi Arabian Basic Industries (SABIC) to develop a fully integrated crude oil to chemicals (COTC) complex in Saudi Arabia that is anticipated to process 400,000 bpd and deliver an annual output of 9 million tons per annum of chemicals and base oils, in addition to transport fuels.
Aramco Performance Materials began commercial operations in 2017, selling its first consignment of cost competitive and sustainable CONVERGE polyols that are used in a broad range of high performance applications such as polyurethane coatings, elastomers, and adhesives, and contain up to 50% carbon dioxide, demonstrating how it can be converted into useful products.
In the drive to grow its base oils business, Saudi Aramco marked a number of milestones in 2017, including establishing a global interchangeable slate of Saudi Aramco branded base oils among the company's LUBEREF, S-Oil, and Motiva affiliates, and starting domestic sales of aramcoDURA and aramcoPRIMA base oils.
Continued investment in pioneering technology, a global R and D network, and collaborative partnerships are key elements driving the company's operational efficiency and production performance.
In 2017, computational modeling resolution enhancements were made to the cornerstone TeraPOWERS and GigaPOWERS reservoir simulators for better understanding of reservoir enhancements. The GeoDRIVE integrated seismic imaging platform, another company technology, was developed to enable ultra-high resolution subsurface mapping and characterization.
Saudi Aramco also expanded its use of innovative nonmetallic materials. More than 2,300 kilometers of non-metallic pipe was deployed, resulting in significant cost avoidance throughout the life cycle. Nonmetallics also create additional markets for crude oil in the construction, automotive, renewable energy and other sectors, and support local manufacturing opportunities.
Source: Saudi Press Agency