Sabic, Exxon Venture Awards Contracts for Elastomers Project

Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemicals producer, said its venture with Exxon Mobil Corp. (XOM) awarded contracts to develop an elastomers project in Jubail.

The contracts were awarded to Jacobs Engineering Group Inc. and Mitsui Engineering & Shipbuilding for process units and to Fluor Transworld Services Inc. for associated support facilities, Saudi Basic said in an e-mailed statement today.

Al Jubail Petrochemical Co. venture, equally owned by Sabic Basic and Exxon Mobil, also signed two agreements with Continental Carbon Co. for technology to develop a greenfield carbon black plant and product off-take, according to a separate statement.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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