Rabigh Refining and Petrochemical Company (Petro Rabigh) said it has successfully passed reliability test for the utilities of the Phase 2 of the project, which started on August 1 until October 30, 2019, with an average initial production levels of 99 percent.
Petro Rabigh Phase 2 is an extension of phase 1, and set to produce 5 million tons of petrochemical products and 15 million tons of petroleum derivatives.
The company said in a statement to Tadawul that the test reflects the reliability and the sustainability of the utilities of the second phase of Petro Rabigh.
It further added that it will prepare detailed reports and data in collaboration with creditors, to start the financial merger of the second phase.
The company also said that the cost of the reliability test was budgeted earlier as part of the second phase.
The reliability test stipulates that the project will operate for 90 days at a capacity utilization rate of 80 percent.
Petro Rabigh is a joint venture (JV) between Saudi Aramco and Japan’s Sumitomo Chemical, with both firms holding 37.5 percent shares each and the remaining trading on the Saudi Stock Exchange (Tadawul).
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