"Aramco" Saudi Arabia signs a deal with $ 11 billion to develop a field "Jafoura"
Riyadh, August 14 / WAM / Saudi Aramco signed a $ 11 billion rental and re -rental deal related to gas processing facilities in the “Jafoura” field, with a coalition consisting of international investors, led by funds run by “Global Innovarst Partners”, known as “Black Rock”.
The Saudi Press Agency stated that the Jafoura field is the largest project to develop the unacceptable gas in the Kingdom, and its size is estimated at about (229) trillion standard cubic feet of raw gas, and (75) billion barrels of condensate, and the project is an essential component of Saudi Aramco plans to increase gas production capacity by (60%) between 2021 and 2030, to meet the increasing demand.
As part of the deal, Jafoura will transport and process gas (GMGC) will rent development and use of the gas laboratory in Jafoura, and the Rias facility to divide natural gas fluids, and re -rent them again to Saudi Aramco for a period Jafoura.
Saudi Aramco will have a majority share of (51%) at GMGC, while investors led by GIP will have the remaining 49%(49%).
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