Exxonmobil Wins Major Role in Saudi Gas Project
US energy giant ExxonMobil has won the coveted lead role in Saudi Arabia's $15 billion south Ghawar gas deal, reported the Gulf Daily News on Sunday.
The company edged out stiff competition from rival super-major Royal Dutch/Shell, which was awarded the leadership role in the $5bn Shaybah gas development project, said the paper.
Foreign Minister Prince Saud Al Faisal was quoted as saying that a ministerial committee that supervised negotiations with foreign oil firms recommended that the two companies be assigned the leading roles in the two projects.
"The ministerial committee based its recommendations on what the two companies enjoy in terms of experience, competence and due to their technical and financial resources which would enable them to carry out the roles assigned to them in the best way possible," Prince Saud said.
He said the committee would pass on its recommendations to Saudi Supreme Petroleum Council to consider them before agreements are signed with the world majors.
Exxon had already landed the lead position in the third gas package on offer by Riyadh, the $5bn development of the Red Sea coast.
Both Exxon and Shell already have significant foreign investments in Saudi Arabia and feature as top customers of Saudi oil.
Saudi on May 18 announced that eight major oil companies would get stakes in the three gas projects, worth a combined $25bn in initial investment – Albawaba.com
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