Aramco is considering opening a gas field to investors

Aramco is considering opening a gas field to investors
Aramco is considering opening a gas field to investors

Informed sources confirmed that Saudi is considering taking a bold step by opening one of the largest unconventional gas fields in the world to foreign investors, as it is looking to provide financing for the project, which is worth $110 billion.

The sources said: The company is working with a consultant to explore the sale of shares or debt to develop the vast Al-Jafurah field, and has started preliminary talks with potential investors.

The sources, who requested anonymity, pointed out that the consultations are still in their early stages, and Aramco may decide to pursue other ways to raise funds to finance the development of the field.

Any agreement on Al-Jafurah would be a rare precedent for Aramco when it allows outside investors the opportunity to own stakes in its oil and gas assets.

The Jafurah field is a priority for Saudi rulers, as they look to increase gas production and reduce dependence on crude oil exports. It is estimated that the site contains 200 trillion cubic feet of rich raw gas. Aramco expects to start production there in 2024.

Follow the economic statement via Google News
Follow the economic statement via Google News

Print
Email

Twitter
LinkedIn
Pin Interest
Whats App

These were the details of the news Aramco is considering opening a gas field to investors for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Saudi Arabia ahead of US, EU and UK when it comes to Basel IV compliance
NEXT US Fed holds key rate steady for fourth straight meeting

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]