Under Energy Minister’s Patronage, Ministry of Investment, SATORP Sign Agreement to Advance 'Amiral' Project and Boost Downstream Industries

Under the patronage and in the presence of Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, the Ministry of Investment signed an investment agreement yesterday with SATORP to develop the "Amiral" project, a joint venture between Saudi Aramco and TotalEnergies, aiming to accelerate the localization of petrochemical value chains and to catalyze the growth of downstream industries.

 The Amiral project will focus on the production of petrochemicals that serve as essential enablers for several strategic sectors, including the automotive and construction industries. In a move to maximize the added value of the Kingdom's natural resources, approximately 50% of the project’s production will be allocated as feedstock to develop and support local industrial supply chains. The remaining output will be exported to global markets, contributing to the Kingdom’s trade balance and the ongoing diversification of non-oil revenue streams.

 This initiative is part of the Integrated Energy Strategy, which emphasizes the development of petrochemical projects using liquid feedstock. By aligning with both the National Industrial Strategy and the National Localization Strategy, the project will play a pivotal role in enhancing local content and creating direct, high-value employment opportunities for Saudi citizens.