Green Palm represents an investment into the largest unconventional gas development in KSA

In October 2025, Green Palm S.à r.l. (“Green Palm”) acquired a 49% equity interest in Jafurah Midstream Gas Company (“AssetCo”) from Saudi Arabian Oil Company (“Aramco”) in a transaction that valued AssetCo at approximately US$22 billion. AssetCo’s asset perimeter comprises all gas and natural gas liquids (“NGLs”) processing facilities treating raw gas produced from the Jafurah field. AssetCo holds long-term rights to tariff-based revenues through 2045 for the processing and transportation of gas from the Jafurah field, located in the Eastern Province of the Kingdom of Saudi Arabia.

Jafurah is Aramco’s largest non-associated gas development and a cornerstone of the Kingdom’s energy strategy. Being developed in two phases through 2030, the project is expected to provide critical baseload gas supply for domestic consumption and is central to Aramco’s ambition to increase sales gas production by 60% by 2030 relative to 2021 levels.

Aramco retains full ownership and operational control of the Jafurah field and associated midstream infrastructure, which constitute essential strategic energy infrastructure for both Aramco and the Kingdom. The transaction structure aligns long-term, contracted midstream cash flows with Aramco’s continued operatorship and strategic oversight.