President of Korea, CEO of Aramco attend groundbreaking for S-$7 OIL’s billion Shaheen project in Ulsan, Korea
Riyadh – Asdaf News:
President Yoon Suk Yeol of the Republic of Korea and Aramco President and CEO Amin H. Nasser today attended the groundbreaking ceremony for the 7 billion US dollars Shaheen petrochemical project in Ulsan, Korea.
Senior officials and ministers from both countries were present for the historic occasion. The Shaheen project, announced in November 2022, is being built by Aramco associate S-OIL and is a crucial component of Aramco’s regional crude-to-chemicals plan.
Amin H. Nasser, Aramco President & CEO, said: “We are deeply honoured by the presence of President Yoon at this historic groundbreaking ceremony. Shaheen is among Aramco’s biggest international downstream investments, representing a significant and sizeable step forward in our liquids-to-chemicals expansion and another major milestone in further strengthening our presence in Korea.”
Aramco’s most notable investment in Korea to date is Shaheen, which is anticipated to be among the biggest integrated steam crackers in the world. The thermal crude to chemicals technology developed by Aramco in partnership with Lummus Technologies is also being used extensively for the first time in a commercial setting.–SPA
