'Aramco President Visits S-Oil Shahin Project Site'

Mohamed Al Katani Inspects Key Facilities in Ulsan
Aramco and S-Oil Reaffirm Strategic Partnership
"Inspiration for the Global Petrochemical Market... Thank You"

Mohamed Al Katani, President of Aramco's Downstream (petrochemical and refining) Division, visited the S-Oil 'Shahin Project' site. This visit goes beyond a simple investor inspection and is being interpreted as a direct demonstration of Aramco's commitment to continuing its strategic partnership with the Korean petrochemical industry.

On May 13, S-Oil announced that Mohamed Al Katani, President of Aramco's Downstream Division, had visited the S-Oil Shahin Project site located in Onsan National Industrial Complex, Ulju-gun, Ulsan, the previous day. Khalid Radi, Acting CEO of Aramco Asia Korea (AAK), also accompanied the visit. The Shahin Project is a massive initiative in the downstream sector, which produces chemical products from refined oil, and aims to produce these products more efficiently. The core of the project is the application of Aramco's crude oil-to-chemicals direct conversion technology (TC2C) for the first time in Korea.

Mohamed Al Katani, President of Aramco's Downstream Division, visited the S-Oil Shahin Project site located in Onsan National Industrial Complex, Ulju-gun, Ulsan, on the 12th, signing the equipment to wish for safe construction and success. S-Oil

Currently, the Shahin Project has reached a progress rate of 69.1%, with mechanical completion scheduled for the first half of next year. On this day, Al Katani toured major facilities, including the steam cracker (for ethylene production), the polymer plant (for synthetic resin production), and the recently completed propylene separation tower, which is the tallest in Korea at 118 meters. He personally signed the tower, wishing for safe construction and the project's success.

Al Katani encouraged the workers, stating, "I wanted to see the site in person and express my gratitude for your efforts before the construction reaches its peak." He went on to say, "The Shahin Project is proof of Aramco's continued commitment to petrochemicals, and it provides great inspiration not only for S-Oil's future growth but also for the global petrochemical market as a whole."

Since the groundbreaking ceremony in 2023, Al Katani has shown deep interest by visiting the Shahin site several times. He also serves as a director of S-Oil, maintaining his status not just as an investor but as a joint strategic partner.

Going forward, S-Oil plans to supply the feedstock secured through the Shahin Project to domestic petrochemical companies via pipeline networks. An S-Oil representative stated, "This will enable reduced transportation costs and stable supply," adding, "It will also enhance the competitiveness of the petrochemical cluster, contributing to the revitalization of the regional economy."