Saudi Aramco expects capex to reach US$40 to US$50 bn in 2022
Saudi Aramco’s latest Sustainable Report highlights the huge opportunities for advanced technology and know-how providers within aramco's operations and projects.
Key sustainability objectives relate to energy efficiency in the upstream and downstream operations including the chemicals division at SABIC; methane and flaring reductions, investment in 12 GW of solar PV and wind projects including the 1.5GW Sudair Solar Project; CCUS and blue hydrogen with 11 mtpa of transportable blue ammonia by 2030 and 11mtpa of CO2 capture by 2035 with feasibility studies now underway for Wasit, Fahili and Khursaniya; and carbon offsets including 300 million new trees.
EIC (Energy Industries Council) latest projects report is tracking US$180 bn of projects in the Kingdom and MEED (Middle East Economic Digest) Projects latest report presented by Ed James highlighted the scale of ongoing projects in a wider context including the massive NEOM infrastructure contract awards on the Red Sea coast.
This month sees the second anniversary of the launch of our SAVI - Saudi Arabia Ventures Initiative and we look forward to ramping up SAVI as we head towards #ONS2022, Gastech 2022 and ADIPEC Exhibition and Conference 2022.