Exxon Mobil Corporation, Aramco, and the Samref refinery have signed a Venture Framework Agreement to study a major upgrade and expansion of the Samref facility in Yanbu, Saudi Arabia. The project aims to transform the existing refinery into a large-scale integrated refining and petrochemical complex.

Under the agreement, the partners will evaluate substantial capital investments to increase production of high-value distillates with lower emissions, advanced performance chemicals, and improved energy efficiency. The initiative includes an integrated strategy to reduce operational emissions.

Mohammed Y. Al Qahtani, Aramco Downstream President, said: "This next phase of Samref marks a step in our long-term strategic collaboration with ExxonMobil. Designed to increase the conversion of crude oil and petroleum liquids into high-value chemicals, this project reinforces our commitment to advancing Downstream value creation and our liquids-to-chemicals strategy. It will also position Samref as a key driver in the growth of the Kingdom's petrochemical sector."

Jack Williams, Exxon Mobil Corporation Senior Vice President, said: "We value our partnership with Aramco and our long history in Saudi Arabia. We look forward to evaluating this project, which aligns with our strategy to focus on investments that allow us to grow high-value products that meet society's evolving energy needs and contribute to a lower-emission future."

The companies have begun a preliminary front-end engineering and design (pre-FEED) phase. The proposed development is intended to maximize integration benefits, strengthen the facility's competitiveness, and support rising domestic and regional demand for premium petrochemical products.

Samref is an equally owned joint venture between Aramco and Mobil Yanbu Refining Company Inc., a wholly owned subsidiary of Exxon Mobil Corporation. The refinery currently processes more than 400,000 barrels of crude oil per day and produces a range of products including propane, automotive diesel, marine fuel oil, and sulfur.

Any final decision to proceed with the upgrade and expansion will depend on detailed technical studies, market conditions, necessary regulatory approvals, and investment decisions by both Aramco and ExxonMobil. The project reflects the partners' shared focus on advancing higher-value downstream activities while incorporating technologies that support energy efficiency and emission reduction objectives.