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2 minutes read

Saudi Aramco outlines massive three-year spending programme

The largest investments involve three liquids-to-chemicals (LTC) complexes

Saudi Aramco is planning to launch 99 projects over the next three years as it seeks to ramp up oil and gas output and treatment capacity and modernise its existing facilities.

The 2024-2026 expenditure programme is divided into three main segments: 58 oil, gas and petrochemical projects, 22 pipeline and distribution developments; and 19 civil and marine infrastructure schemes. Each project comprises multiple individual contract packages.

A total of 40 projects involve the greenfield, expansion or upgrade of hydrocarbon facilities, 12 of which will be offshore. These include projects such as the gas lift programme at the Marjan Field, dry gas handling at Shaybah, and sulphur recovery unit upgrades across the kingdom.

Other major schemes include the residue unit upgrade at the Ras Tanura refinery and a crude increment and produced water facilities at the Ghawar and South Ghawar fields.

The largest investment under the medium-term programme is the construction of three world-scale liquids-to-chemicals (LTC) complexes at the existing Yasref, Samref and Sasref refineries in Yanbu and Jubail. While the LTC programme has been under consideration for at least half a decade, this is believed to be the first time Aramco has publicly stated the multi-billion-dollar projects will be spread across two locations and three complexes.

Additionally, the oil and gas giant said it was planning a new grassroots integrated refinery complex on the Gulf coast without providing further details.

To support this expenditure, there will be a number of associated civil infrastructure and marine works projects, including a new corporate office and residential units in Dhahran and an upgrade of marine facilities in Yanbu.

The material requirements for Aramco’s three-year capital expenditure are significant.

The company estimates it needs:

  • 20,000 kilometres of carbon steel pipe
  • 2.4 million tonnes of structural steel
  • 2,300 kilometres of transmission lines
  • 21,000 switchgears
  • 4 million cubic metres of concrete
  • 5,300 transformers
  • 44,000 high, medium and low-voltage cables

Aramco presented details of the plan at the Future Projects Forum in Riyadh on 20 May.

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