Aramco and TotalEnergies announced in a joint statement on Saturday that they have signed a contract worth $11 billion to begin the construction of a new petrochemical complex in Saudi Arabia. The statement said, "Saudi Aramco and TotalEnergies today announced the awarding of engineering, procurement, and construction contracts worth $11 billion at the Amiral complex, which is a future global-class petrochemical expansion facility at the SATORP refinery in the Kingdom."