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FINANCIAL NEWS
Saudi Arabia focuses efforts to boost gas findings
29 Nov 2015
(MENAFN) Aramco, the Saudi behemoth has closed agreements worth up to USD5 billion for the enlargement of its local gas processing and distribution facilities.
This all falls into the kingdom’s relentless efforts to increase natural gas yield in order to secure the countries strong economic status for the short-term.
Moreover, the prior cited deals follow a contract worth USD6.5 billion for the Fadhili gas processing plant which will treat 2 billion cubic feet a day of sour gas.
Bottom-line, the Saudi efforts to discover and develop free gas fields are imperative, hence reserves have grew by about 20 percent from 2005’s numbers.
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