ADNOC and Ravago to explore further opportunities to unlock value and growth within the petrochemical value chain as part of ADNOC’s downstream expansion

Abu Dhabi, UAE: The Abu Dhabi National Oil Company (ADNOC) today announced that it has signed a Memorandum of Understanding (MOU) with Ravago Group (Ravago), a leading service solutions provider in the global polymers and chemicals market, to explore opportunities for cooperation at the Ruwais Industrial Complex in the UAE.

As part of ADNOC’s efforts to maximize value across its value chain, Ravago and ADNOC will explore ways to upgrade and commercialize the non-prime product generated at Borouge, the joint venture between ADNOC and Austria-based Borealis. This process, known as compounding, would take place at the proposed facility, situated in the Ruwais Industrial Complex.

Ravago’s manufacturing segment, operates 24 plants across 4 continents, producing plastics, rubbers and chemicals, serving the automotive, electronics, and building and construction industries through the company’s global distribution network. Both companies will also explore potential collaboration opportunities leveraging Ravago’s strengths across multiple areas to further unlock value within the petrochemical chain.

Mr. Abdulaziz Abdulla Alhajri, Director, Downstream Directorate, ADNOC, said: “ADNOC seeks to create partnerships with those who can bring additional value to our hydrocarbon resources, our downstream assets and the UAE economy at large. This proposed collaboration with Ravago is an excellent example of a partner bringing world-class technologies and expertise to complement ADNOC’s strengths, unlocking conversion value and creating efficiencies, for the benefit of both partners.”

Ravago CEO, Theo Roussis, commented: “This project confirms our commitment to the region and our legacy business, recycling, compounding and distribution.”

The Ruwais Industrial Complex, where the new potential venture will be located, is already home to one of the largest downstream sites in the world. ADNOC aims to further develop and expand Ruwais into the world’s largest integrated refining and petrochemicals complex, that will also include a large-scale, integrated manufacturing ecosystem, through the creation of new petrochemicals derivatives and conversion parks.

The agreement was signed at ADNOC’s Downstream Investment Forum, where ADNOC revealed plans to significantly enhance and expand its downstream operations in support of its ambition to become a leading global downstream player.

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About ADNOC

ADNOC is a major diversified group of energy and petrochemical companies, that produces about 3 million barrels of oil and 10.5 billion cubic feet of raw gas a day. Its integrated upstream, midstream and downstream activities are carried out by 14 specialist subsidiary and joint venture companies. To find out more visit www.adnoc.ae

For further information: media@adnoc.ae

About Borouge

A joint venture between ADNOC and Borealis, Borouge is a leading petrochemicals company that provides innovative plastics solutions for the energy, infrastructure, mobility, packaging, healthcare and agriculture industries. With 4.5 million tonnes of annual capacity, Borouge is the world’s largest integrated polyolefin complex, with the ambition to more than double its current capacity by 2025.

About Ravago

Ravago group, a multinational group of companies, leaders in compounding, recycling, distributing, and reselling plastic, elastomeric raw materials and fabricated/construction products.

Ravago’s manufacturing activities have always been a core competence for the group which has been approached with the dual philosophy of providing a service to the industry and adding value through the product chain by commercializing the compounds.

To find our more visit www.ravagomanufacturing.com 

© Press Release 2018