Money & BusinessSaudi Arabia

Aramco signs contract worth $10bn to kickstart Jafurah project

Saudi Arabia’s oil giant Aramco has signed $10 billion worth of contracts to kickstart the development of its massive Jafurah unconventional gas field.

The company said it signed 16 subsurface and Engineering, Procurement, and Construction contracts with local and international companies, including US-based Schlumberger and Halliburton. Other companies that signed contracts with Aramco include Baker Hughes, NESR, Saudi Taqa, Sinopec, Larsen and Toubro, and Saipem. 

A total of $68 billion is expected to be spent over the first 10 years of the project’s development, as Aramco anticipates more than $100 billion total lifecycle investment. 


Arab News

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