Aramco has announced contracts totalling over $25bn to advance its gas expansion in Saudi Arabia, aiming for more than a 60% increase in sales gas production by 2030 compared to 2021 levels.
Last month, Sinopec International Petroleum Services, a part of China-based Sinopec, had won a contract worth CNY7.9bn ($1.08bn) from Aramco pertaining to the Master Gas System project.
“This complements the diversification of our portfolio, creates new employment opportunities, and supports the Kingdom’s transition towards a lower-emission power grid, in which gas and renewables gradually displace liquids-based power generation.”