Saudi Aramco to invest USD10b in unconventional gas resources
(MENAFN) Saudi Aramco is set for a total investment worth USD10 billion in unconventional gas resources, according to its chief executive, Saudi Gazette reported.
Marking its commitment for developing shale gas deposits, Aramco protracted the bidding deadline for companies to invest on its unconventional gas facilities in the northern side of the country.
The firm's project, nominated as System A, is set to involve building processing facilities, wellheads and pipelines for gas in Turaif. The total value of the contracts remains yet undisclosed.
Aramco's chief executive said that Aramco had invested USD3 billion in developing unconventional gas resources and had earmarked an additional USD7 billion for it.
"Saudi Arabia will be the next frontier after the US, where shale and unconventional will make a significant contribution to our energy mix, especially gas," he added.
Marking its commitment for developing shale gas deposits, Aramco protracted the bidding deadline for companies to invest on its unconventional gas facilities in the northern side of the country.
The firm's project, nominated as System A, is set to involve building processing facilities, wellheads and pipelines for gas in Turaif. The total value of the contracts remains yet undisclosed.
Aramco's chief executive said that Aramco had invested USD3 billion in developing unconventional gas resources and had earmarked an additional USD7 billion for it.
"Saudi Arabia will be the next frontier after the US, where shale and unconventional will make a significant contribution to our energy mix, especially gas," he added.
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