Saudi Aramco has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources told Reuters on Thursday.
Saudi Aramco has asked a unit of oil services firm Baker Hughes – Gaffney, Cline and Associates – to carry out the review. Aramco’s fields are estimated to contain 15 percent of the world’s oil.
Baker Hughes – Gaffney, Cline and Associates employs 300 consultants, working in all oil and gas industry sectors.
The auditing is a key element of the company’s plans to list itself for an IPO, which is being led by Deputy Crown Prince Mohammed bin Salman, who oversees energy and economic policy as chair of the powerful Council on Economic and Development Affairs.
[Click to read the full report from Reuters on the latest on the Kingdom’s plans to list Saudi Aramco]
