Bloomberg: Aramco plans to split gas production with chemical expansion

Saudi Aramco intends to split its gas production in two branches, where fuel will become significantly important to expand its business from the chemical sector.

Sources told Bloomberg that Aramco will create two new divisions, “Southern Gas Operations” and “Northern Region Gas Operations”.

The departments will be managed by Wael Al-Jaafari and Jamaan Al-Zahrani respectively, according to sources who have requested anonymity.

The sources also indicated that the appointments are in awaiting the approval of the company’s board of directors, in one moment in which Aramco has not made any official statement in this regard.

Saudi Aramco is considering opening the door to one of the world’s largest unconventional gas fields to foreign investors as it seeks to finance a $ 110 billion project to diversify oil sales, sources told Bloomberg.

Sources said Aramco is working with a consulting firm, as it is exploring capital raising for its vast site in the Jafurah region and has initiated preliminary talks with potential investors, including major commodity traders. prime.

He added that the deliberations are in its early stages and Aramco may decide to pursue other ways to raise funds to finance the development of the Jafurah camp.

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