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RIYADH: It’s official now. In a move that reverberates across the energy industry, Saudi Aramco, the world’s largest oil producer, has announced a monumental expansion plan for its Fadhili Gas Plant. With a staggering investment of $7.7 billion, this expansion project marks a significant stride towards enhancing Saudi Arabia’s energy infrastructure and meeting the rising global demand for natural gas.
The company in a very recent statement has said that the contract for the expansion of the Fadhili Gas Plant increment project is awarded to the SAMSUNG Engineering Co, GS Engineering & Construction Corp, and Nesma & Partners
The energy giant Aramco is hoping that by this expansion the energy capacity will be increased from 2.5 billion standard cubic feet per day to up to 4 billion.
The company also added that with extra 1.5 bscfd processing capacity it will contribute in gas production capacity 60% by 203 as compared to the 2021 levels.
Wail Al-Jaafari, Aramco executive vice president of technical services. Said that the contract shows how much Aramco is interested to increase the value of crude oi and reduce the greenhouse gas emissions.
He further added that Aramco is keen to increase the product of gas along with international companies.
The Fadhili Gas Plant nestled in the eastern province of Saudi Arabia is expected to be completed by November, 2027. With this expansion it is also expected that the Sulphur production will be increased by 2,300 metric tons per day.
Aramco President and CEO Amin Nasser said, that this plant expansion will contribute to the growth of both economic and industrial development along with major reduction in greenhouse emissions.
In fiscal year 2023, the company has announced it’s net income which is $121.3 billion marking the second-highest in its history.
This news is covered by the Teleport Manpower Consultant media house.. For more such latest and trendy news visit https://teleportmanpower.com/blog/
