Saudi Arabia's integrated energy and chemicals giant, Aramco, has unveiled the allocation of engineering, procurement, and construction contracts totaling $7.7 billion (SR28.88 billion) for the expansion of its Fadhili Gas Plant located in the Eastern Province. The ambitious endeavor aims to elevate the plant's processing capacity from 2.5 billion standard cubic feet per day (bscfd) to a staggering 4 bscfd.

This significant augmentation, projecting a notable increase of 1.5 bscfd in processing capability, is poised to fortify Aramco's strategic agenda of bolstering gas production by over 60% by the year 2030, relative to 2021 levels. Scheduled for completion by November 2027, the Fadhili Gas Plant expansion is forecasted to elevate sulphur production by an additional 2,300 tonnes per day. Wail Al Jaafari, Aramco's executive vice-president of technical services, expressed, "The allocation of these contracts underscores Aramco’s objective of augmenting natural gas supplies, supporting endeavors to mitigate greenhouse gas emissions, and releasing additional crude oil for value-added refining and export. Collaborating with prominent international firms, we are actively pursuing our goal of enhancing gas production."

He added, "Moreover, the expansion aligns with our aspirations to cultivate a lower-carbon hydrogen business, and the by-products from gas serve as crucial feedstock for the petrochemical sector."  The responsibility for the engineering, procurement, and construction (EPC) contracts for the Fadhili Gas Plant expansion initiative has been assigned to Samsung Engineering, GS Engineering & Construction, and Nesma & Partners.

In a recent financial disclosure, Aramco reported a net income of $121.27 billion for the entirety of 2023, marking a 25% decline from the preceding year's figure of $161.06 billion. Despite the downturn, this net income stands as the company's second-highest ever recorded.

Aramco, among the globe's foremost integrated energy and chemicals enterprises, actively generates value throughout the hydrocarbon spectrum, providing indispensable societal and economic advantages to individuals and communities worldwide dependent on the critical energy provisions. Aramco staunchly pledges to assume a prominent position in navigating the energy transition. The company is dedicated to spearheading efforts towards achieving a net-zero economy, with its personnel diligently engaged in addressing the sustainability predicaments confronting the world. Aramco firmly believes in the transformative influence of energy to enrich lives, strengthen communities, propel human development, and preserve our planet. As the global population is projected to surge by two billion in the next 25 years, the need for additional energy will escalate to fulfill the growing demand. Aramco is dedicated to promoting energy efficiency while also addressing the global emissions challenge.