Saudi, Japanese companies launch large joint oil project

Saudi state-run Aramco Company and Japan’s Sumitomo Chemical Industries signed on Sunday an agreement to invest in a large oil project in Saudi Arabia, according to reports reaching here.

Saudi Minister of Oil and Mineral Resources Ali bin Ibrahim al- Nuaimi launched the joint Saudi-Japanese petroleum project, named “Petrorabigh”, in the western Saudi costal city of Jeddah on Sunday, according to the reports.