"Aramco Plans To Significantly Boost Gas Output"

From OilPrice:

Aramco has plans to increase its natural gas production by 64 percent from the current 14 billion cubic meters daily to 23 billion cubic meters, the company’s chief executive officer, Amin Nasser, said at an industry event in Dubai as quoted by S&P Global Platts.

Natural gas is among Aramco’s top priorities for the future along with downstream crude oil operations with a particular focus on petrochemicals.

The company will invest some US$160 billion in raising its natural gas production, Nasser said, as part of a larger US$500-billion investment program for the next decade. Natural gas production capacity will be boosted to 25 billion cubic meters.

The company will pursue both conventional gas developments and unconventional ones, the executive also said. Earlier this year, Aramco began production of unconventional gas at the North Arabia field. Production from the field was seen to ramp up from the initial 55 million cu ft per day to 190 million cu ft per day by the end of this year.

As part of its gas plans, Aramco earlier this month signed a joint exploration and production agreement with Adnoc, covering both natural gas and LNG. Under the terms of the deal the two companies will look into LNG investment opportunities, the companies said at the time....MORE