FINANCIAL NEWS

Saudi Aramco invites bids for gas fields

01 Aug 2010

(MENAFN) State oil firm Saudi Aramco has invited contractors to bid for offshore work at its non-associated gas fields feeding Wasit, the biggest gas plant built in the kingdom, Reuters reported

Wasit would process up to 2.5 billion cubic feet per day (cfd) of gas from the Arabiyah and Hasbah offshore fields.The deadline for bids is November 7.

After completing a crude oil capacity expansion plan last year, the world’s top oil exporter has focused on developing gas production to meet rapidly rising domestic demand.

Aramco has given no cost estimate for the Wasit plant, but industry sources said it would cost between $6 billion and $8 billion.

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