Saudi Arabian General Investment Authority and Shell sign agreement to evaluate building a Catalyst Manufacturing Facility
Nov 21, 2019
Riyadh, Kingdom of Saudi Arabia: The Saudi Arabian General Investment Authority (SAGIA) and Shell Overseas Services Ltd. (Shell) signed a memorandum of understanding (MOU) today to evaluate the potential for building a state-of-the-art residue upgrading catalyst manufacturing facility in Jubail Industrial City, subject to regulatory approvals. The signing took place in Riyadh, Saudi Arabia.
Residue upgrading catalysts are critical in helping refineries upgrade the bottom of the oil barrel into more valuable products, including generation of petrochemicals feedstocks. The MOU would seek to utilise the expertise of Shell Catalysts & Technologies, a wholly owned subsidiary of Shell that provides catalysts, technology, technical advisory services and research and development expertise to the refining and petrochemical processing industries worldwide.
The MOU was exchanged among His Excellency, Ibrahim Alomar, Governor of SAGIA and Andy Gosse, President of Shell Catalysts & Technologies.
“The Kingdom’s National Industrial Strategy emphasizes on the production of high value, specialty type products, including catalysts to serve local and regional demand for these products and to export worldwide. This MOU is an important step in this direction where we capitalize on Shell’s expertise as a leading catalyst producer to localize the production of key products in this category in the Kingdom. We are pleased to work with Shell in this new investment, to be added to Shell’s existing investments in the Kingdom”, said H.E Ibrahim Alomar
“In line with Shell’s interest to grow its business footprint in Saudi Arabia, this MOU with SAGIA enables collaboration, seeking to realise value-added investment opportunities and contribute towards maximising the benefits from the Kingdom’s natural resources”, said Andy Gosse, adding that, “it is critical for refiners to get the most out of the bottom of their barrel with residue upgrading catalysts. New global fuel regulations and an increased focus on oil to chemicals, have significantly increased the number of residue-upgrading units already in operation, in construction or being planned. With these opportunities comes the challenge of producing the large volume of catalysts that will be required.”
The MOU will provide a framework for conducting the required studies to assess the commercial feasibility of this proposed project and, subject to regulatory approvals, the potential construction of a residue upgrading catalyst manufacturing facility in the region.
About Saudi Arabian General Investment Authority (SAGIA):
The Saudi Arabian General Investment Authority (SAGIA) works in collaboration with other government entities to attract, retain and expand high-value investments for the benefit of sustainable national economic growth.
SAGIA works across the public and private sectors to help businesses and investors access fast-emerging opportunities across Saudi Arabia. It identifies and develops investment opportunities and supports regulatory improvements to increase competitiveness, unleash the capabilities of promising economic sectors, and open new opportunities for foreign investments.
SAGIA supports businesses throughout the investment journey: from identifying opportunities, to conducting feasibility studies and connecting with potential partners, to setting-up operations.
SAGIA has a particular focus on nine priority sectors identified within Saudi Arabia’s Vision 2030: chemicals, information & technology, energy & water, industrial & manufacturing, mining & metals, healthcare & life sciences, transport & logistics, tourism, culture & entertainment, and emerging sectors.
About Shell in the Kingdom of Saudi Arabia:
Shell has been in The Kingdom of Saudi Arabia for more than 75 years, a journey that began with the refuelling of the late King Abdulaziz’s first airplane. Shell is active in the blending and marketing of lubricants: JOSLOC – Al Jomaih and Shell Lubricating Oil Company Limited (50% Al Jomaih / 50% Shell) manufactures and distributes Shell-branded lubricants in Saudi Arabia. Shell has been working together with the Al Jomaih family since 1956. Shell Catalysts & Technology supply technical process licences, technical services and catalysts to various refining and petrochemical customers throughout the Kingdom.
About Shell Catalysts & Technologies:
The companies that comprise Shell Catalysts & Technologies, all of which are Shell’s wholly owned subsidiaries, provide technical services and licensed technologies. Shell Catalysts & Technologies also offers a market-leading catalyst portfolio with a specific focus on providing innovative refinery, petrochemical and environmental catalyst solutions.
Shell Overseas Services Ltd – Saudi Arabia
Cell: +966 56 0599996
Head Media Relations Middle East & North Africa
Shell EP International
Tel: +971 4 705 5347
Cell: +971 56 216 2409
Spokesperson Middle East & North Africa
Shell EP International Ltd
Tel: +9714 705 5783
Cell: +97156 226 0924
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