PetroChemicals Increase the Production ExxonMobil held a virtual foundation laying ceremony on Tuesday (March 31) for the multi-billion-dollar expansion of its Jurong Island petrochemical and refining complex to increase its production capacity for higher-value products and cleaner fuels.
This investment, which the international energy company announced in April last year, will create 135 new jobs.
It will also have major repercussions for the rest of the economy in areas such as logistics, process construction and maintenance, said Chief Minister and Coordinating Minister for Homeland Security Teo Chee Hean, who participated in the ceremony.
In lieu of a physical foundation laying ceremony, ExxonMobil held a video conference from two locations in Singapore and one in Dallas.
New catalyst and process technologies will be deployed at the Singapore Integrated Chemical and Refining Project to convert fuel and other crude products from the bottom of the barrel to higher value lubricant base stocks and distillates.
The expansion will increase the production capacity of cleaner fuels with a lower sulfur content by 48,000 barrels per day and 20,000 barrels per day of lubricant base stocks.
You can also optimize overall energy use and limit emissions in the facility. The waste heat will be recovered and used to generate steam to reduce electricity and fuel consumption.
Amid a challenging outlook on the global economy and energy industry, this is a clear indication of ExxonMobil’s continued commitment and confidence in Singapore, as its chosen partner and manufacturing hub for the region.
This investment will also provide a new boost to Singapore’s energy and chemical sector, which has been an important and lasting pillar of the Singapore economy.