Saudi to invite gas project bids

Saudi Arabia has invited tenders from international oil majors for three giant natural gas exploration projects. “We will offer three specific projects, each with an area of between 30,000 to 50,000 sq/km. More areas will be offered in the future,” Ali Al Nuaimi told the official SPA news agency. About 40 hand-picked foreign companies from Britain, Canada, China, France, Germany, Holland, India, Italy, Japan, Malaysia, Russia and the United States will attend the meeting, Nuaimi said. The three-day meeting was called after the collapse of the multi-billion dollar Saudi Natural Gas Initiative in its integrated form. It follows Riyadh’s July 16 decision to grant a major gas exploration project to a consortium led by Royal Dutch/Shell, and which includes Total and Saudi Aramco. The project covers an area of 200,000 sq/km in the Rube Al Khali in the south of the country for reported investments totalling USD 2 billion.

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