Aramco’s strategic gas expansion includes $3.12 billion in rig contracts
Aramco has awarded contracts worth more than $25 billion total to progress its strategic gas expansion, which targets sales gas production growth of more than 60% by 2030, compared to 2021 levels.
Among the awards include 23 gas rig contracts worth $2.4 billion, along with two directional drilling contracts worth $612 million. In addition, 13 well tie-in contracts at Jafurah, worth a total of $1.63bn, have been awarded between December 2022 and May 2024.
The contracts relate to phase two development of the vast Jafurah unconventional gas field, phase three expansion of Aramco’s Master Gas System, new gas rigs and ongoing capacity maintenance.
The Jafurah unconventional gas field is estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion Stock Tank Barrels of condensate. Phase one of the Jafurah development program, which commenced in November 2021, is progressing on schedule with initial start-up anticipated in Q3 of 2025.
