ADNOC, Borealis sign deal for joint petrochemical activities in Ruwais
The Abu Dhabi National Oil Company (ADNOC) and Borealis have signed a framework agreement under which the companies will advance two key projects.
The deal aims to expand both parties downstream petrochemicals business and support the delivery of ADNOC’s integrated smart growth and partnership strategy.
The proposed Borouge 4 complex is slated to come on stream around 2023 and will be integrated with ADNOC’s Takreer refinery.
As part of its 2030 strategy, the oil company aims to expand petrochemical production from the current 4.5 million tonnes per year to 11.4 million tonnes per year by 2025.