Sadara Basic Services Company announces that the Ministry of Petroleum and Mineral Resources has agreed to extend its agreement to the fuel and feedstock allocation required for the Sadara project

Monday, December 29, 2014 at 12:00 AM

2014-12-29 (1436-03-07 ) 08:32:21 Related Links Detailed Quote Company Profile Sadara Basic Services Company, being indirectly owned 100% by Sadara Chemical Company (Sadara), a company developed by the Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (together, the Project Sponsors), announces the signature by Sadara and the Project Sponsors of a feedstock allocation extension letter on 28 December 2014, corresponding to 6 Rabi I 1436 (the Feedstock Allocation Extension Letter). Under the Feedstock Allocation Extension Letter, Saudi Aramco confirms that the Ministry of Petroleum and Mineral Resources has agreed to extend until 30 November 2015, corresponding to 18 Safar 1437, its agreement to the fuel and feedstock allocation required for the Sadara project. Sadara will utilize ethane, dry gas, refinery naphtha, and other refinery liquids sourced from Saudi Aramco and third parties to produce its products. For further information on the Sadara project please refer to the prospectus issued by Sadara Basic Services Company on 13 March 2013, corresponding to 1 Jumada I 1434. Such prospectus may be viewed in electronic form on the websites of Sadara (www.sadara.com)