Aramco, Hyundai sign $2.4 bln gas plant deal in Jafurah

Saudi Aramco and South Korea's Hyundai Engineering and Construction signed a $2.4 billion contract to build a gas processing plant, Yonhap News Agency reported, citing Seoul's Presidential Office.

The deal was clinched in the presence of South Korean President Yoon Suk Yeol as part of his four-day visit to Saudi Arabia.

In February 2020, Saudi Aramco announced regulatory approval of the development of the Jafurah unconventional gas field in the Eastern Province. It was expected that the field’s production, to commence early in 2024, would reach around 2.2 billion standard cubic feet per day of sales gas by 2036, Argaam earlier reported.