Aramco signs $ 11 billion, Jafurah Midstream, a deal with global infrastructure partners

SAUDI ARAMCO has signed a $ 11 billion rental and leasing agreement ($ 41.25 billion Singapore) for gas treatment facilities with a consortium from international investors, which are led by the money managed by Global Infrastructure Partners (GIP), part of Blackrock.

This directly important foreign investment (FDI) emphasizes the capabilities of creating value for the Aramco Investment Program in the current capital.

Jafurah gas development is the largest gas project that is not linked to the Kingdom of Saudi Arabia. It is estimated that 229 trillion cubic feet of raw gas and 75 billion parks of the arrow tank of capacitors.

This project is extremely important to the ARAMCO strategy of increasing the gas production capacity by 60 % between 2021 and 2030, which aims to address the high demand for gas in the region.

According to the deal, a newly formed subsidiary, Jafurah Midstream Gas Company (JMGC), will rented development and use of the Jafurah field and RIYAS GAS NOURAL Siles.

JMGC will rent these assets to Aramco for 20 years, and receive a tariff from Aramco in exchange for granting exclusive rights to receive and process raw gas from Jafurah.

Aramco will maintain a 51 % majority share in JMGC, while the 49 % investors will keep remaining.

“Jaffurah is the cornerstone of our ambitious gas expansion program, and explains the participation of GIP, as investors in a major element in resuming our non -traditional gas operations for international investment for international investment,” said Aramco and CEO of Aramco Amin H. Nasser.

“With Jafurah’s willingness to start producing the first stage of this year, developing the subsequent stages on the right track. We look forward to Jafurah playing a major role as a provider of meditation in the petrochemical sector, and providing the energy required to operate the new growth sectors, such as artificial intelligence centers, in the Kingdom.”

The treatment is expected to be completed, which will not place any restrictions on the sizes of Aramco production, as soon as possible, pending standard closure conditions.

Upon completion, the deal will support improved Aramco assets and enhance the value of the development of the Jafurah gas field.

This investment also enhances the current relationship between Aramco and Blackrock, which has participated in the leadership of a consortium from investors in investing a separate minority in the Aramco pipeline company in 2022.