#Saudi Aramco to Review Upstream Assets for Potential Stake Sales: Sources - Bloomberg

Saudi Aramco to Review Upstream Assets for Potential Stake Sales: Sources - Bloomberg

Saudi Aramco is conducting a strategic review of its upstream business, in a move that could potentially see the state-owned firm bring in external investors to some of its oil and gas assets, people with knowledge of the matter said.

The world’s biggest energy company is in preliminary discussions with advisers to evaluate its options, the people said, asking not to be identified as the matter is private. Aramco may study possibilities including selling stakes in the operations at certain fields or entering joint ventures with other large energy producers, the people said.

It could also form partnerships to develop new gas resources, according to the people. Any deal could raise billions of dollars for Aramco, which is at the center of Saudi Arabia’s economic transformation plan, the people said.

Aramco is unlikely to open up its most important oil assets, though it could bring in investors to less sensitive operations, the people said. Deliberations are at an early stage, and the structure of any potential deal hasn’t been decided, the people said. The company, which is formally known as Saudi Arabian Oil Co., declined to comment, as did the energy ministry.