Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) completed its $11 billion lease and leaseback investment agreement for its Jafurah gas processing facilities, according to a press release.

The deal witnessed the participation of a consortium of international investors led by funds managed by Global Infrastructure Partners (GIP), a part of BlackRock.

The transaction, first announced in August 2025, further unlocks additional value from Aramco’s asset base and its operations.

Investors participating in the GIP-led consortium include Hassana Investment Company, The Arab Energy Fund (TAEF), and Aberdeen Investcorp Infrastructure Partners, as well as other institutional investors from North and Southeast Asia and the Middle East.

Amin H. Nasser, Aramco President & CEO, said: “Jafurah kick starts our plan to expand our overall sales gas production capacity, which will contribute to Saudi Arabia’s growth ambitions across multiple sectors, including energy, artificial intelligence, and major industries such as petrochemicals.”

Jafurah Midstream Gas Company (JMGC), a newly established Aramco subsidiary, has secured development and usage rights for the Jafurah Field Gas Plant and the Riyas NGL Fractionation Facility, leasing them back to Aramco under a 20-year agreement.

Under the deal, JMGC will collect a tariff from Aramco while granting the oil giant the exclusive right to process and treat raw gas from Jafurah.

Aramco maintains a 51% ownership stake in JMGC, with the remaining 49% held by the GIP-led investor group.

Meanwhile, the project is a cornerstone of Aramco’s strategic gas expansion, which focuses on supplying growing natural gas demand in the Kingdom while investing in global LNG markets.

Jafurah is estimated to contain 229 trillion standard cubic feet (tscf) of raw gas and 75 billion Stock Tank Barrels (STB) of condensate.

Production is expected to commence in 2025, with the intention of progressively ramping up to 2 billion standard cubic feet per day (BSCFD) of sales gas, 420 million standard cubic feet per day (MMSCFD) of ethane, and 630 thousand barrels per day (MBD) of high-value liquids by 2030.