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Feasibility Study for Rabigh
Project Phase II
Result and recommendation will be
presented to Petro Rabigh General
Assembly prior commitments.
Dhahran, April 2009:
Petro Rabigh Refining and Petro
Rabigh Refining & Petrochemical
Company (Petro Rabigh) assigned on
Sunday, April 19, 2009 the
Memorandum of Understanding for
Rabigh Project Phase 2 along with
the Saudi Arabian Oil Company (Saudi
Aramco) and Sumitomo Chemical
Company of Japan, the main
shareholder in Petro Rabigh
Projects, to perform the feasibility
study for the potential Rabigh
Project Phase 2.
Petro Rabigh would like to advise
its all shareholders that Memorandum
of Understanding (MOU) does not
include any expenditures or
financial commitment from Petro
Rabigh, and at this stage it is an
initiative of Saudi Aramco and
Sumitomo Chemical.
In case of positive result of this
feasibility study on this potential
project, the project and study
result will be presented to Petro
Rabigh Board of Directors (BOD), for
proper recommendation which, will be
then presented to shareholders
through general assembly to approve
this project as an expansion of
Petro Rabigh Project. Further,
needed actions will be taken
accordingly. |