ExxonMobil completes acquisition of one of the world's largest aromatics plants
SINGAPORE — ExxonMobil Asia Pacific Pte Ltd announced today it has completed its acquisition of one of the world’s largest aromatics facilities on Jurong Island in Singapore. The acquisition was first announced in May 2017.
- ExxonMobil Asia Pacific Pte Ltd acquires Jurong Aromatics Corporation Pte Ltd plant
- Increases company’s Singapore aromatics production to over 3.5 million tonnes per year
- Proximity to company’s integrated refining and petrochemical complex will strengthen both sites with product and logistical synergies
The facility, previously owned by Jurong Aromatics Corporation Pte Ltd (JAC), is located near ExxonMobil’s largest integrated refining and petrochemical complex in the world, with an ethylene production capacity of 1.9 million tonnes per year and pipe-still capacity of 592,000 barrels per day.
The acquisition will strengthen both sites with operational and logistical synergies, as well as increase ExxonMobil’s Singapore aromatics production to over 3.5 million tonnes per year, including 1.8 million tonnes of paraxylene, and add about 65,000 barrels per day of transportation fuels capacity.
“Integration of the aromatics plant with our existing manufacturing facility will help us to better serve our customers in key Asian growth markets, as well as further establish Singapore as a hub for global trade and economic progress,” said Gan Seow Kee, chairman and managing director of ExxonMobil Asia Pacific Pte Ltd. “We have rehired a majority of the qualified employees from JAC. Their knowledge and expertise will help to ensure its continued safe and reliable operations.”
ExxonMobil has operated in Singapore for more than 120 years and is one of the country’s largest international manufacturing investors. Singapore’s integrated petrochemical complex can process a wide range of feedstocks, from light gases to crude oil. Later this year, the complex will begin the phased startup of new 230,000 tonne-per-year specialty polymers facilities that will produce halobutyl rubber and performance resins for adhesive applications.
The company’s growth in Singapore is driven by the expected increase in global demand for chemical products over the next decade of nearly 45 percent, or about 4 percent per year, which is a faster pace than energy demand and economic growth. Nearly three-quarters of the increased demand is expected to be in Asia Pacific as a result of its rising prosperity and a growing middle class.
About ExxonMobil Chemical Company
ExxonMobil Chemical Company is one of the largest petrochemical companies worldwide. The company holds leadership positions in some of the largest-volume and highest-growth commodity petrochemical products in the world. ExxonMobil Chemical Company has manufacturing capacity in every major region of the world, serving large and growing markets. More than 90 percent of the Company’s chemical capacity is integrated with large refineries or natural gas processing plants. To learn more, visit www.exxonmobilchemical.com.
About ExxonMobil in Singapore
ExxonMobil is one of Singapore’s largest foreign manufacturing investors with over S$20 billion in fixed assets investments. Our Singapore affiliate, ExxonMobil Asia Pacific Pte Ltd, (EMAPPL) has manufacturing facilities which include refinery operations in Jurong and a world-scale petrochemical plant on Jurong Island. EMAPPL has a network of service stations under the Esso brand and is a supplier of cylinder cooking gas. EMAPPL also serves the commercial market with its industrial, aviation and marine fuels and lubricants. As a corporation, ExxonMobil is committed to addressing the challenge of sustainability – balancing economic growth, social development and environmental protection. In line with those strategies, ExxonMobil and EMAPPL contribute to programs in Singapore that support the arts and education, the community and the environment. For more information, visit www.exxonmobil.com.sg or follow us on Twitter www.twitter.com/exxonmobil_sg.
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