The Abu Dhabi National Oil Company (Adnoc) has unveiled plans to build the world’s single largest integrated refinery and petrochemical complex in Al-Ruwais within the next five years, according to various press reports.
The company has earmarked $45bn for the expansion of the complex, Adnoc announced during its Downstream Investment Forum on 13 May.
“We will double our crude refining capacity, triple our petrochemical production and alongside our partners invest $45 billion to create the single largest integrated refining and petrochemicals destination in the world,” Gulf News quoted Sultan Ahmad Al Jaber, minister of state and chief executive officer of Adnoc as saying.
According to Bloomberg, the project will increase Ruwais refining capacity by more than 65%, or 600,000 barrels a day, by 2025, bringing the total to 1.5 million barrels per day.
It will also involve upgrading the facility to produce high volumes of value petrochemicals and derivative products, ChemWeek reported 14 May.
“It includes a plan to build one of the world’s largest mixed feed crackers, trebling petchems production capacity from 4.5 MMt/y 2016 to 14.4 MMt/y by 2025,” ChemWeek added.
The downstream strategy will create more than 15,000 jobs by 2025 and add 1% to UAE's GDP annually, according to Al Jaber.