The Shaheen petrochemical project in South Korea will feature a steam cracker with a production capacity of 1,800KTA of ethylene, a TC2C facility for converting crude directly into petrochemical feedstock, a polymer facility, and other facilities such as storage tanks.
Aramco’s affiliate S-OIL has broken ground on the USD 7bn Shaheen petrochemical project in Ulsan, South Korea, which will convert crude oil into 3.2 million tons per annum of petrochemical feedstock.
Announced in November 2022, the Shaheen petrochemical project is said to be an important part of the regional crude to chemicals strategy of Aramco.
The Shaheen project also marks the biggest investment in Korea for the Saudi Arabian energy company to date and is anticipated to be among the largest integrated steam crackers in the world.
Besides, the South Korean petrochemical project is the first major commercial deployment of the company’s thermal crude to chemicals (TC2C) technology, which was jointly developed with Lummus Technology.
Aramco holds a majority stake of over 63% in S-OIL through its subsidiary Aramco Overseas.
The Shaheen petrochemical project will feature a steam cracker with a production capacity of 1,800 kilotons per annum (KTA) of ethylene.