Saudi Arabian Oil Co. (Aramco) and China Petroleum & Chemical Corp. (Sinopec) have signed a memorandum of understanding (MoU) covering areas of potential collaboration related to oil and other energy in Saudi Arabia.
According to an early-August press statement, the areas of potential cooperation include “assessing refining and petrochemical integration opportunities; engineering, procurement and construction; oilfield services, upstream and downstream technologies as well as collaboration across carbon capture and hydrogen processes.”
The companies will also discuss opportunities to establish a local manufacturing hub in King Salman Energy Park.
This latest collaboration builds on existing joint ventures between the two companies, including Fujian Refining and Petrochemical Co. (FREP) and Sinopec Senmei (Fujian) Petroleum Co. (SSPC) in China, and Yanbu Aramco Sinopec Refining Co. (YASREF) in Saudi Arabia.
