Aramco mulls bids from Sinopec, Total to invest in Jafurah gas project
- Date: 28-Aug-2023
- Source: Argaam
- Sector:Oil & Gas
- Country:Saudi Arabia
Aramco mulls bids from Sinopec, Total to invest in Jafurah gas project
Saudi Aramco is considering bids from Sinopec Corp. and TotalEnergies to invest in Jafurah gas project, Reuters reported cited unnamed sources with knowledge of the matter.
China’s giant refiner Sinopec and TotalEnergies are in separate talks with Saudi Aramco, which studies the offers made by both companies after they officially expressed interest in taking part in the project in early 2022.
In February 2020, Saudi Aramco received a regulatory approval for the development of Jafurah unconventional gas field in the Eastern Province, the Kingdom’s largest non-associated gas field to date, Argaam earlier reported.
Saudi Aramco said it expects the field’s production to commence early 2024, and reach nearly 2.2 billion standard cubic feet per day (SCFD) of sales gas by 2036.
The giant oil producer awarded 16 subsurface and EPC contracts valued at $10 billion (SAR 37.5 billion) for the Jafurah gas plant and gas compression facilities, as well as infrastructure and related surface facilities.
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