Aramco signs US$11 billion Jafurah deal with GIP-led consortium

Aramco signed a US$11 billion lease-and-leaseback agreement for Jafurah gas-processing facilities with an international consortium led by GIP-managed funds. Aramco would hold 51% of Jafurah Midstream Gas Company and the consortium 49%. The company would lease development and usage rights for the Jafurah Field Gas Plant and Riyas NGL Fractionation Facility and lease them back to Aramco for 20 years. Completion remained subject to closing conditions.