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FINANCIAL NEWS
Saudi Aramco to start gas production from Madyan field next year
15 Oct 2012
(MENAFN) Saudi Aramco has recently signed an agreement with the Ministry of Transport to develop facilities at Dhuba Port in Tabuk to extract the gas from recently discovered gas field near the port, Arab News reported.
The agreement was signed by Saudi Aramco President Khaled Al-Falih and Transport Minister Jabara Al-Seraisry.
The development project will include upgrading one of the port’s wharfs for gas supplies from Madyan field north of the port.
According to Al-Falih, gas production from the Tabuk region would start from Madyan field next year.
“The Madyan field was found in the 1980s and recent estimates prove the field has considerable reserves,” he added.
Gas will be pumped through a pipeline to Dhuba Port and an electricity plant and a distribution network would be established in the industrial region of Dhuba, Al-Falih said.
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