Saudi AramcoThe world's largest energy company has awarded $25 billion in contracts to develop its Jafura gas project to boost generation capacity and reduce global warming emissions, Bloomberg reports.
The contracts awarded include an increase of $12.4 billion. Production According to a company statement, $8.8 billion was invested in the Jafurah gas field to expand the master gas system, which delivers natural gas to buyers across the country. Aramco also invested $2.4 billion in gas rig contracts.
“These contract awards reflect our strong belief in the future of gas as an important energy source, as well as a vital feedstock for downstream industries,” Bloomberg reported on Sunday, citing Aramco Chief Executive Officer Amin Nasser as saying in a company statement.
Saudi Arab Is the largest Gas The Jafurah field has the largest natural gas reserves in the world, and developing the reserves, which are estimated to contain 200 trillion cubic feet of natural gas, would cost about $100 billion. According to a company executive, this would increase Aramco's natural gas production by more than 60 percent by 2030, which is needed to meet growing demand.
“The level of our ongoing investment at Jafurah and the expansion of our master gas system underline our intention to further integrate and grow our gas business to meet anticipated growing demand,” Nasser said.
Natural gas produced from the project will be used for power supply. domestic Aramco said any additional capacity generation would potentially be used to produce blue hydrogen or export it to other countries and liquefied natural gas (LNG) for industries in the country.
Saudi Aramco has a market value of $1.788 trillion, making the Middle East-based energy giant the world's largest energy producer. resources According to data from Company MarketCap, the world's most assets are owned by Exxon Mobil, worth $516.42 billion, followed by Chevron at $286.06 billion.
