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Saudi Aramco considers asset sales to free up funds: Reuters
- Saudi Aramco is seeking investors to raise funds for its $100 billion Jafurah shale gas project, which is expected to begin output in 2025 in Saudi Arabia.
- This move follows Aramco's previous asset sales in 2021 that raised nearly $28 billion to support infrastructure investments amid falling oil prices.
- The company is constructing a comprehensive infrastructure for Jafurah that features facilities for gas treatment, separation of natural gas liquids, compression units, and approximately 1,500 kilometers of pipeline networks.
- Aramco intends to maintain majority control and continue operating the Jafurah project, targeting an increase in production to reach two billion cubic feet daily by 2030, which would elevate its gas capacity by 60%.
- The project is critical to Aramco’s ambition to become a major global natural gas player, with total investments expected to exceed $100 billion over 15 years.
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Exclusive: Saudi Aramco considers asset sales to free up funds, sources say
Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said, as it pursues an international expansion and weathers lower crude prices
·United Kingdom
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