Saudi Aramco has concluded engineering, procurement and construction contracts worth $7.7 billion to implement a major expansion of the “Fadhili” gas plant, which is located in the Eastern Province of the Kingdom of Saudi Arabia. This came in light of the company’s strategy to increase gas production by more than 605% by 2030, according to a statement issued by Aramco. Last Tuesday.

Aramco is working to make the Kingdom play a major role in the field of global gas production, as it works to explore more fields within the Kingdom’s territories in addition to expanding investment abroad, out of its desire to meet the local demand for gas in addition to supporting export needs.

It is expected that the production of more gas will help Saudi Arabia to replace the oil used in generating electricity, leading to a greater surplus of oil for export. In light of this, last September, Aramco concluded its first deal ever in the field of exporting liquefied natural gas, by purchasing a share About $500 million, subject to increase, in the company “Med Ocean Energy”, which acquires shares in 4 Australian liquefied natural gas projects.

The year 2023 witnessed Saudi Arabia announcing the discovery of two natural gas fields in the Eastern Province and the Empty Quarter with a total flow rate of 34 million cubic feet per day. The project is expected to increase the gas processing capacity of the plant from 2.5 to 4 billion standard cubic feet per day, and it is expected to add an expansion. The Al-Fadhili gas plant has an additional 2,300 metric tons for sulfur production, and is expected to be completed by November 2027.

As for the production of the Jafurah field in Saudi Arabia, production is expected to begin by 2025, with a plan to gradually increase natural gas supplies to reach two billion cubic feet by 2030, amid estimates of reserves reaching 200 trillion cubic feet of raw gas.

Aramco’s profits fell by 24.71% during the year 2023 to reach 454.76 billion riyals, which was slightly below expectations, but the company’s revenues fell by 17.6% to reach 1.65 trillion riyals, and the contracts reflect the company’s goal of increasing gas supplies in addition to reducing emissions of gases that cause global warming in addition to To provide more crude oil to add value to the refining and export business.

The new expansion supports the company’s ambitions to develop low-carbon hydrogen businesses in addition to benefiting from the liquids associated with gas production as a raw material, as it is of importance in the petrochemical industry. Aramco worked to add large quantities of gas and condensates in the unconventional Jafoura field. It amounted to 15 trillion standard cubic feet of gas and about two billion barrels of condensate.