State petroleum firm Saudi Aramco and petchems counterpart Sabic have chosen UK’s Wood Group to oversee the development of a game-changing project to produce petrochemicals directly from crude oil.

The 50:50 JV partners have contracted Wood to undertake front end engineering design (FEED) with a view to an end-2019 final investment decision. Wood would also project manage the engineering, procurement and construction (EPC) phase. (CONTINUED - 890 WORDS)