Saudi Aramco this week held a signing ceremony for $25bn of contracts to expand Saudi Arabia’s crucial gas sector. “The contracts we announce today, valued at more than $25bn, start a new phase of development for two mega projects that will take our world-class natural gas capabilities to the next level,” CEO Amin Nasser told the 30 June ceremony.

Contracts worth $12.4bn were signed for Phase 2 of the Jafurah Basin unconventional gas development, alongside $8.8bn-worth of awards for the Phase 3 expansion of the Master Gas System. On top of this, multiple drilling contracts to support gas development worth nearly $5bn have been awarded since December 2022, Aramco says. (CONTINUED - 1035 WORDS)