Aramco’s Jafurah phase 2, MGS-3 contracts worth $25B: Nasser

Amin Nasser, CEO of Saudi Aramco

Saudi Arabian Oil Co.’s (Saudi Aramco) latest contracts, signed today, June 30, for the second phase of Jafurah field project and the third expansion stage for the Master Gas System project (MGS), are valued at $25 billion, CEO Amin Nasser said.

Speaking at the contract award ceremony, Nasser said the MGS expansion spans 4,000 kilometers of pipelines, which increases the network capacity and connects different cities in Saudi Arabia.

He further indicated that the MGS project is fundamental for the Kingdom over five decades, noting that the project will supply the business sectors in Jeddah and Jizan with gas for the first time, which boosts the industrial sector and creates job opportunities for Saudis.