Saudi Aramco Hires Evercore for $100 Billion Gas Split

Saudi Aramco has hired financial advisory firm Evercore to assist in a restructuring plan known as Project Gamma. The initiative aims to create a standalone gas division, following strategic advice from Boston Consulting Group to split off gas operations to unlock additional value.

The new division will serve as a focused platform for developing domestic natural gas resources within Saudi Arabia and expanding the company's liquefied natural gas portfolio on an international scale. This restructuring is estimated to create a business valued at over $100 billion.

The move may facilitate new investment, a minority listing, or a potential initial public offering. This strategy follows a broader trend among Gulf state oil companies seeking to attract outside capital for diversification while maintaining operational control and keeping their primary oil-producing divisions private.