Phase 2 of the Satorp downstream project remains viable amid low oil prices, according to the French energy company Total, which is partnering with state oil company Saudi Aramco on the project.

“Possible synergies with the existing refinery on the site mean that the scheme is still being contemplated,” said Jean Viallefont, Total’s vice president for Asia.

Phase 1 of the project was a 400,000-barrel-a-day (b/d) refinery that started production last year, but there has been little progress on phase 2 since 2012 and it remains at the study stage.

Phase 2 of the scheme is estimated to be worth $5-10bn and includes plans for a mixed-feed hydrocracker that would use output from the refinery to produce petrochemicals.