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|26 April, 2018

Saudi Aramco, SABIC award oil-to-chemicals project contract to KBR

The multi-billion-dollar project would be the largest crude-to-chemicals facility in the world and the first in Saudi Arabia

Image used for illustrative purpose. A view shows Saudi Aramco's Manifa facility, Saudi Arabia June 14, 2015. Picture taken June 14, 2015. Saudi Aramco/Handout via REUTERS

Image used for illustrative purpose. A view shows Saudi Aramco's Manifa facility, Saudi Arabia June 14, 2015. Picture taken June 14, 2015. Saudi Aramco/Handout via REUTERS

RIYADH  - Saudi Basic Industries Corp (SABIC) said on Thursday that it and Saudi Aramco, its partner in a crude oil-to-chemicals project, have awarded a contract to U.S. engineering company KBR, for the project's management and front-end engineering and design.

In November, SABIC, the world's fourth-biggest petrochemicals company, and state-run Aramco, the world's largest oil firm, signed a deal to build a chemicals complex to convert 45 percent of crude oil to chemicals directly.

The multi-billion-dollar project, which the partners said would be the largest crude-to-chemicals facility in the world and the first in Saudi Arabia, are part of the Saudi government's effort to diversify the economy beyond exporting crude oil.

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(Reporting by Rania El Gamal. Editing by Jane Merriman) ((rania.elgamal@thomsonreuters.com; +971 562 160 434; Reuters Messaging: rania.elgamal.reuters.com@reuters.net ; Twitter: https://twitter.com/Rania_ElGamal))