Chevron Phillips Chemical Announces Management Changes at Saudi Arabian Joint Ventures

THE WOODLANDS, TEXAS (August 24, 2010) – Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) today announced several senior management changes affecting its joint ventures in the Kingdom of Saudi Arabia.  The changes will be effective September 1, 2010.

Said M. Bajodah has been appointed executive president of Saudi Chevron Phillips Company (SCP) and Michael F. (Mike) Zeglin has been named executive president of Jubail Chevron Phillips Company (JCP). Both SCP and JCP are often collectively referred to as “S-Chem.”

David E. Morgan will continue to serve as executive president of Saudi Polymers Company (SPCo).

Bajodah and Zeglin are replacing Elija Andjelich, who previously headed the S-Chem organization. Andjelich will transfer to Chevron Phillips Chemical’s Dubai office to serve as vice president of business development for the Middle East.

Bajodah previously served as senior vice president of finance and administration for S-Chem. Zeglin previously headed the manufacturing organization for S-Chem.  To continue to achieve efficiencies and avoid duplication, both organizations will utilize a series of service agreements for operation and staff functions. 

About S-Chem
SCP, located in the Eastern Province city of Al-Jubail, began operations during December 1999 and produces benzene, cyclohexane and gasoline blendstocks. SCP was the first private sector investment in the Kingdom of Saudi Arabia’s petrochemical industry. The facility is owned 50 percent by Arabian Chevron Phillips Petrochemical Company Limited (ACP), a wholly owned subsidiary of Chevron Phillips Chemical Company LLC, and 50 percent by Saudi Industrial Investment Group (SIIG).

JCP is another Saudi project located in Al-Jubail. This facility produces benzene, ethylbenzene, styrene, and propylene, and began commercial production during the second half of 2008.  JCP is owned 50 percent by ACP and 50 percent by SIIG. 

SPCo is currently developing and constructing a project in Al-Jubail adjacent to the S-Chem facilities. When completed, it will include a world-class olefins cracker and the operation will produce ethylene, propylene, polyethylene, polypropylene, polystyrene and 1-hexene.  SPCo is a limited liability company incorporated in the Kingdom of Saudi Arabia owned 35 percent by ACP and 65 percent by National Petrochemical Company (Petrochem). Petrochem is a joint-stock company incorporated in the Kingdom of Saudi Arabia and owned at least 50 percent  by SIIG with the remaining portion owned by other Saudi investors. 

About Chevron Phillips Chemical
Chevron Phillips Chemical Company LLC is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. The LLC and its affiliates own $7.4 billion in assets and employ over 4,800 people at 40 research and manufacturing facilities in nine countries. Chevron Phillips Chemical Company LLC is equally owned by Chevron Corporation and ConocoPhillips, and is headquartered in The Woodlands, Texas.  For more information about Chevron Phillips Chemical, visit www.cpchem.com.