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FINANCIAL NEWS
Saudi USD13.32bn project to expand Aramco’s gas production
21 Jul 2016
(MENAFN) Saudi Aramco signed a deal with the Fadhili gas project, marking a new milestone in the firm’s drive to expand gas production and supply to meet local demand for ernegy.
Moreover, the new project will help boost production and supply of clean-burning natural gas, lessening dependence on oil for power generation.
Additionally, the Fadhili gas project aims to become a key component of the kingdom’s master gas system, processing gas from onshore and offshore fields.
On the other hand, the project will be developed at a cost of USD13.32bn, benefiting localization initiatives that will reach 40 percent of the whole cost.
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