Riyadh – Mubasher: The Saudi Arabian Oil Co, known internationally as Saudi Aramco, has appointed Japan-based Sumitomo Mitsui Banking Corp (SMBC) and Riyad Bank to advise it on financing Amiral petrochemical project.

Aramco, the world's largest oil producer, discussed with these lenders its plans to pump liquidity in Amiral over the coming period, whose value may reach $5 billion, Reuters reported on Thursday, citing informed sources as saying.

Set to be operational by 2024, Amiral project is a petrochemical joint venture (JV) planned to be developed with the French oil and gas giant Total.

Total, SMBC, Riyad Bank, and Aramco were not available to give a comment, the news agency said.