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ExxonMobil’s new tech deployment in Singapore to create 135 new jobs, says Teo Chee Hean
OIL and gas giant ExxonMobil’s multi-billion dollar investment in new technology at its integrated refining and petrochemical complex in Singapore will create 135 new jobs, Senior Minister Teo Chee Hean said at a virtual foundation-laying ceremony for the project on Tuesday.
The jobs will have significant spin-offs to the rest of the economy in areas such as logistics, process construction and maintenance, he added.
ExxonMobil is now one of Singapore’s largest foreign investors with over S$25 billion in fixed-asset investments, including its largest integrated refining and petrochemical facility in the world, he said.
The investment also boosts Singapore's energy and chemicals sector, which he noted employs 25,000 workers and is responsible for some of the highest-paying jobs in the manufacturing sector.
In 2019, the energy and chemicals sector contributed to 2.3 per cent of Singapore's gross domestic product and 10.8 per cent of manufacturing.
First announced in April 2019, ExxonMobil’s new technology will increase its Singapore facility's capacity to produce high-performance lubricant base stocks and cleaner fuels with lower-sulphur content.
Specifically, it will increase cleaner fuels production by 48,000 barrels per day (bpd).
Overall, the facility has a crude oil distillation capacity of 592,000 bpd and ethylene capacity of 1.9 million tonnes per year.
Additionally, ExxonMobil on Tuesday said it is in discussions with the Singapore government on potential decarbonisation pathways, including potentially piloting novel carbon-capture technologies in the country.