Saudi Aramco Signs $13B Deal for New Domestic Gas Project

July 20, 2016 3:38 PM

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State-owned Saudi Aramco says it has signed a deal for a new gas project that will be worth more than 50 billion Saudi riyals ($13.3 billion) when complete in 2019 aimed at meeting the kingdom's growing domestic demand for energy.

The company on Wednesday said the project will help lessen dependence on oil for power generation and accommodate 4,500 training, temporary and permanent jobs for Saudis. The Fadhili project will process gas from onshore and offshore fields.

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