Oil major Total and Aramco sign $5bln deal to build Jubail petrochemical complex | ZAWYA MENA Edition:
"French oil and gas major Total on Tuesday signed a $5 billion deal with Saudi Aramco to build a giant petrochemical complex at their 440,000 barrels-per-day Jubail Satorp refinery.
Saudi Aramco holds a 62.5 percent stake in the refinery, while Total holds the other 37.5 percent. The memorandum of understanding (MoU) was signed on the sidelines of a visit by Saudi Crown Prince Mohammed bin Salman in Paris.
"The project will represent an investment of around $5 billion. The two partners are planning to start the front-end engineering and design in the third quarter of 2018," Total said in a statement."
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