ExxonMobil announces further investment at Fife ethylene plant
- £140 million investment through 2019 and 2020 will support 850 local construction jobs
- Additional investment will improve plant reliability and reduce frequency of flaring
“These planned investments demonstrate our commitment to long-term reliable operations at the site.” said Jacob McAlister, plant manager at the Fife ethylene plant. “While already one of the most modern plants of its kind in Europe, we are always looking for ways to improve reliability and efficiency through continued maintenance and investment in new technologies. Fife has a long-term future as a competitive asset, contributing to both the local and national economies.”
A portion of the £140 million investment will go toward technologies that reduce the impact of flaring, including a state-of-the-art flare tip, which will reduce noise and vibration.
The project will support approximately 850 local construction jobs and benefit 40 local suppliers.
“We are committed to the highest operational and regulatory standards,” said McAlister. “This investment further contributes to the local economy and across Scotland through job creation and procurement contracts.”
This is the latest investment by ExxonMobil companies in the U.K. In April, plans to proceed with a more than £800 million expansion plan at the Fawley refinery and petrochemical plant near Southampton were announced. In May, a £75 million project to double the capacity of the advanced elastomers production plant in Newport, Wales was completed.
The Fife ethylene plant began operations in 1985 and has a production capacity of over 800,000 tonnes of ethylene a year. Over the last 30 years, it has been a major employer in the area, currently employing over 270 employees and core contractors, with more than 60 percent living within 10 miles of the plant.
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Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, costs, and capacities, production rates, and business results could differ materially due to changes in market conditions affecting the oil, gas, and petrochemical industries or long-term prices for oil, gas, and petrochemical products; political or regulatory developments including changes in law; actions of competitors and development of competing products; and the outcome of commercial negotiations; technical or operating factors; the outcome of commercial negotiations; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com. The term “project” in this release may refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.