Project Amiral: Building a successful

model of industry partnershipJean-Jacques MOSCONI, TOTAL SVP Amiral Project

SATORP REFINERY

SATORP: first phase of a giant integrated

complex

SAUDI ARABIA

Riyadh

Jubail refining & petrochemical platform

• JV Saudi Aramco (62.5%) / Total (37.5%)

• 13 B$ Investment*

• Started up in 2014

• Completion date declared in June 2016

• First dividend generated in 2017

• Debottlenecked to 440 kb/d in 2018

• Targeting 480 kb/d by 2024

• Top quartile refinery

• 96% availability average 2015-18

• Access to heavy crude

• Full conversion process

• >55% middle distillates

• ~1B$ CFFO average 2015-18

* 100% view

What makes the Saudi Aramco/Total partnership unique is a

strong alignment between partners on all major topics:

vision of the market evolution, industrial operations philosophy,

financial policy

AMIRAL giant integrated complex :

feeding a large hub of specialty chemicals

Mixed Feed

Cracker

~60% announced

Ineos

2 B$ investment

Daelim

Polyisobutylene (PIB)

Veolia

Energy Recovery

and Waste Waters Treatment plants

More to come …

AMIRAL

5.5 B$

Ethylene

Propylene

C4 / C5

1.5

Mt/y 1 Mt/y PE*

SATORP

13 B$

Off gases

Naphtha

Specialty Chemicals 4 B$

Aramco 62.5% TOTAL 37.5%

Hydrogen

Phase 1 Phase 2

• LAO / PAO

• Acrylonitrile (ACN)

* Advanced Double Loop (ADL) Technology

Large synergies between

Satorp and Amiral

• Satorp refinery supplying key

feedstocks of Amiral Cracker

• Amiral Cracker Hydrogen

feeding Satorp desulfurization

units

• Many common services

between the two plants

Petrochemicals

number-one component

of Downstream growth

Other

Feedstocks

10 new products in the Kingdom

AMIRAL plot location in Jubail 2 industrial city

Jubail

Commercial Port

(Containers)N

King Fahd

Industrial Port

(Bulk)

Residential Area

Conversion

parkJubail 2

Jubail 1

AMIRAL platform: a unique investment

opportunity for high added value chemicals

• Development of high added value Chemicals embedded in Vision 2030.

• World size Amiral mixed feed cracker as a source of multiple - C2, C3, C4, C5 - derivativesdevelopments.

• Kingdom’s transportation and logistics infrastructure supports easy access to markets of more than 1500 million people.

The merits of Amiral location in Jubail

Industrial City

• Jubail industrial city: a Leading Petrochemicals Hub.

• Managed by the Royal Commission for Jubail and Yanbu.

• Home to the largest single industrial project in the world: 1016 square kilometers including

industrial complexes, major Harbor and port facilities.

• Very competitive energy supply conditions.

• Friendly business environment with dedicated Administrative Bodies to attract Foreign Investment.

• Efficient and skilled workforce.

• With more than 7500 employees, Amiral to become a key industrial platform in the Kingdom

promoting saudization and highly contributing to the GDP growth of the country.

AMIRAL schedule

• April 2018: MoU between Aramco and Total

• November 2018: Amiral FEED launched with Technip FMC

• July 2019: Finalization of Lay Out for Amiral plot

• August 2019: Selection of Cracker Technology (McDermott/Lummus)

• Q3 2021: Amiral Final Investment Decision

• End 2024 / End 2025: Commissioning and start-up of all units

Thank youwww.gpca.org.ae