Gas Arabian Services Co. Announces that it has received (non-binding) letter of intent from Saudi Arabian Oil Company (Saudi Aramco) for Engineering, Procurement and Construction work towards MGSE from SHEDGUM to EWPS-1

Gas Arabian Services Co. Announces that it has received (non-binding) letter of intent from Saudi Arabian Oil Company (Saudi Aramco) for Engineering, Procurement and Construction work towards MGSE from SHEDGUM to EWPS-1

27 February 2024 08:33 AM

GAS

9528

12.67%

8.45

0.95

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Explanation

Announcement Detail

Gas Arabian Services Co. announces the receipt of (non-binding) letter of intent on 26th Feb, 2024 from Saudi Arabian Oil Company (Saudi Aramco) for Engineering, Procurement and Construction work towards Master Gas System Expansion (MGSE) from SHEDGUM to EWPS-1. The letter included providing Engineering, Procurement and Construction work for an amount of SAR 344,614,412 Duration of letter of intent : 90 days from the date of signature. No Related Parties. This letter of intent is subject to execution of a final written contract between GAS Arabian Services Co. and Saudi Aramco. The company will announce any future developments in this regard in due course, after the final written contract has been signed.

Gas Arabian Services Co. Announces that it has received (non-binding) letter of intent from Saudi Arabian Oil Company (Saudi Aramco) for Engineering, Procurement and Construction work towards MGSE from SHEDGUM to EWPS-1