Saudi Aramco, one of the world’s leading integrated energy companies, has completed a $11 billion lease and leaseback agreement for its Jafurah gas processing facilities. It also agreed on buying a minority stake in a company owned by the Saudi Public Investment Fund (PIF), one of the largest sovereign wealth funds in the world.
The $11 billion leaseback transaction was finalized with a consortium of global investors led by Global Infrastructure Partners (GIP). The consortium includes Hassana Investment Company, The Arab Energy Fund (TAEF), and other institutional investors. The agreement, first announced in August 2025, unlocks value from Aramco’s assets and supports the ongoing development of the Jafurah field, one of the world’s largest unconventional gas projects.
The Jafurah field is estimated to hold approximately 229 trillion standard cubic feet (tscf) of raw gas and 75 billion stock tank barrels (STB) of condensates. Production is slated to begin in 2025, with output expected to gradually increase by 2030 to 2 billion cubic feet per day (bcf/d) of sales gas, 420 million standard cubic feet per day (mmscf/d) of ethane, and 630,000 barrels per day (bbl/d) of high-value liquids.
Aramco also signed a non-binding term sheet with the Public Investment Fund (PIF) to acquire a minority stake in HUMAIN, a PIF company dedicated to building advanced artificial intelligence (AI) capabilities globally.
Launched in May 2025, HUMAIN is developing full-stack AI capabilities across next-generation data centers, high-performance cloud infrastructure, advanced AI models—such as Arabic Large Language Model (ALLAM), one of the world’s leading multimodal Arabic LLMs—and transformative AI solutions.
Both PIF, which will retain majority ownership in HUMAIN, and Aramco plan to contribute AI assets, expertise, and talent to the company, aiming to accelerate its growth and position Saudi Arabia as a global leader in data and AI innovation.
