The Clap
Saudi Aramco (2222) is in talks with potential investors to develop the $110 billion Al Jafurah gas field, according to Bloomberg.
What
According to sources, Aramco is looking for investors who can help finance the development of transportation and refining projects in the Jafurah field in eastern Saudi Arabia, with the aim of benefiting from one of the largest unconventional gas fields in the world.
So What
Aramco has reached out to major private equity firms and funds that invest in infrastructure, according to the people familiar with the matter.
This step falls in line with the company’s plan to attract funding for the project, with participation extending to assets such as carbon capture and storage facilities, pipelines, and hydrogen plants.
Now What
Al Jafurah is a key part of KSA’s strategy to diversify its energy exports away from oil.
It is estimated that the field contains 200 trillion cubic feet of raw gas.
Aramco expects to start production in the field starting in 2025, with sales reaching about 2bn standard cubic feet per day by 2030.
