South Rub' al-Khali Company (SRAK)
Saudi Aramco is working in cooperation with Royal Dutch Shell to find and develop gas reservoirs, as part of the Kingdom of Saudi Arabia's Gas Initiative.
The South Rub' al-Khali Company (SRAK) covers non-associated gas exploration activities, as well as the evaluation, development and production of natural gas, natural gas liquids and field condensates in two promising areas in the southern and eastern Rub' al-Khali.
The area that has been awarded to SRAK totals some 210,000 square kilometers and the companies will enjoy a 25-year production period. Shell and Saudi Aramco each hold a 50 percent share in SRAK.
The SRAK agreement with the Government is the first upstream gas agreement signed since the opening of the Kingdom's upstream gas sector. The project is designed to form a strategic relationship between the Kingdom and leading international petroleum companies to support domestic economic development, and to create employment opportunities for Saudi nationals.
The Anglo-Dutch Royal Dutch Shell is a group of energy and petrochemical companies operating in more than 145 countries and employing more than 115,000 people.
Saudi Aramco is partnering with Russian oil company Lukoil to find and develop gas reservoirs, as part of the Kingdom of Saudi Arabia's Upstream Gas Offering.
The exploration activities will take place in Contract Area A, a 30,000-square-kilometer area in the Kingdom's Rub' al-Khali Basin.
To explore Contract Area A, the two companies have established an exploration and producing company, called Luksar Energy Limited, with Lukoil holding 80 percent of the company and Saudi Aramco 20 percent.
Lukoil is the leading vertically integrated oil company in Russia. The company's main activities are oil and gas exploration and production, and production and sale of petroleum products.
Sino Saudi Gas
Saudi Aramco is working with Chinese oil and petrochemical company Sinopec to find and develop gas reservoirs as part of the Kingdom of Saudi Arabia's Upstream Gas Offering.
The exploration activities are taking place in Contract Area B, an approximately 40,000-square-kilometer area in the Kingdom's Rub' al-Khali Basin.
To explore Contract Area B, Sinopec and Saudi Aramco have formed an exploration and producing company, Sino Saudi Gas Limited, with Sinopec holding 80 percent of the company and Saudi Aramco 20 percent.
Sinopec is a vertically integrated energy and chemical company. It is China's largest producer and marketer of oil products (both wholesale and retail of gasoline, diesel, jet fuel), and No.1 supplier of major petrochemical products (intermediates, synthetic resin, synthetic fiber, synthetic rubber, fertilizer), as well as the 2nd largest crude oil producer.