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Oil exploration   The sale was announced on January 22, 2017

Shell completes SADAF chemicals sale in Saudi Arabia to SABIC for $820mn

Shell SADAFShell has completed the sale of its 50% share in SADAF, the petrochemicals joint venture, located in Al Jubail, in the Kingdom of Saudi Arabia to SABIC for $820 million.

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READ MORE Saudi Basic Industries to pay $820 million for rest of Shell JV

This sale was announced on January 22, 2017. Completion follows anti-trust filings in the relevant countries and regulatory approval from the Kingdom of Saudi Arabia.

This acquisition will enable SABIC to optimise operations at SADAF and further invest in the facilities, integrating them with SABIC’s other affiliates.

This step will allow Shell to focus its downstream activities and make selective investments to support the growth of its global chemicals business.

Completion of this deal shows the clear momentum behind Shell’s global, value-driven $30bn divestment programme.

This deal does not impact Shell’s other interests in the Kingdom of Saudi Arabia.

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