Saudi Aramco is advancing a sweeping investment program worth approximately $90 billion, launching nearly 100 mega-projects that span oil, gas, petrochemicals, low-carbon energy, and digital innovation. According to CEO Amin Nasser, this massive pipeline is currently under implementation and reflects the company’s long-term strategic push to diversify its operations and secure the Kingdom’s energy future.
At the heart of Aramco’s growth agenda is the Jafurah gas project, poised to become the largest non-U.S. shale gas development globally. Output from Jafurah is expected to ramp up to 2 billion cubic feet per day by 2030, fueling a projected 60% surge in Aramco’s gas activities from 2021 levels.
This monumental expansion is being underpinned by fresh capital strategies that attract global investors. Recently, Aramco sealed an $11 billion lease and leaseback agreement with a consortium led by Global Infrastructure Partners (GIP), part of BlackRock. The deal includes establishing a new subsidiary, Jafurah Midstream Gas Company, with Aramco retaining a 51% stake. Rights to key assets like the Jafurah gas plant and Riyas NGL fractionation facility will be leased to this new entity for 20 years, offering a stable and innovative financing framework.
Alongside these gas-focused ventures, Aramco is also diving deeper into digital and low-carbon arenas. The $90 billion project portfolio includes advanced petrochemical plants, clean energy facilities, and a significant push into artificial intelligence, automation, and digital solutions, confirming Aramco’s broader ambition to lead in both energy and technology innovation.
Taken together, Aramco’s expansive investment trajectory underlines its dual strategy: to meet evolving energy demand through gas expansion while positioning itself as a diversified, technology-driven energy powerhouse aligned with Saudi Arabia’s Vision 2030 economic transformation goals.
