Saudi Aramco Develops Midyan Natural Gas Field, Eqtisadiah Says

Saudi Arabian Oil Co. is developing a natural-gas field called Midyan in the northwestern part of the kingdom, the Eqtisadiah newspaper reported, citing Chief Executive Officer Khalid al-Falih.

The gas will be used for power generation, al-Falih told the Riyadh-based daily.

Saudi Aramco, as the company is known, has released the engineering, procurement and construction tenders for the Midyan gas processing project that will cost about $800 million, MEED said on its website yesterday.

The field is forecast to produce 75 million cubic feet a day of gas and 4,500 barrels a day of condensate for a 20-year period, according to MEED, the Middle East business news service. Gas from Midyan will be transported by pipeline to a power plant in the coastal town of Duba, 135 kilometers (84 miles) southwest of the field, MEED said.

The bid deadline for the tender submissions is mid-October with completion scheduled for 2015, MEED said.

To contact the reporters on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.