Aramco has firmed a US$11bn agreement with a consortium formed by international investors concerning its Jafurah gas processing project. According to the agreement, the consortium will be leasing and later leasing back to Aramco the asset for a period of 20 years.
The consortium is led by Global Infrastructure Partners (GIP). It has created a new subsidiary for the development and management of the facility, Jafurah Midstream Gas Company (JMGC). Aramco will retain a 51% majority stake in JMGC, while GIP and partners will hold the remaining 49%.
The Jafurah facility is planned to feature a gas processing plant, a natural gas liquids (NGL) fractionation plant, a gas compression system and approximately 1,500km of associated pipeline. The development of the processing facility is linked to the Jafurah field, the largest non-associated gas development in Saudi Arabia.
For more information, please visit EICDataStream.