Saudi Aramco Announces Strategic Gas Expansion Deals
Company Awards Contracts Worth Over $25 Billion
Dhahran, Saudi Arabia - July 1, 2024
Saudi Aramco, one of the world's leading integrated energy and petrochemical companies, has announced its strategic gas expansion plans with the award of contracts worth more than $25 billion.
The company said the awards were a major step forward in its plans to increase gas production and expand its gas network, targeting a significant increase in gas production capacity to meet growing domestic and international demand.
The contracts cover engineering, procurement, and construction (EPC) work for several projects, including the development of gas fields, the construction of gas processing plants, and the expansion of gas pipelines.
"These awards are a testament to our commitment to meeting the growing demand for energy in a responsible and sustainable manner," said Aramco President and CEO Amin H. Nasser. "These projects will play a vital role in our efforts to increase our gas production and expand our gas network, and will contribute to the economic and social development of Saudi Arabia and the region."
Aramco said the projects are expected to create thousands of jobs and contribute to the development of the local supply chain. The company added that it would continue to invest in gas expansion and other initiatives to support Saudi Arabia's Vision 2030.
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