Evercore (EVR) has been hired to advise Saudi Aramco on a restructuring that could create a standalone gas division and potentially lead to a future listing of the unit, Bloomberg reported Saturday, citing unnamed people familiar with the matter.

The gas business could attract new investment or be partly listed at a valuation of more than $100 billion, sources told Bloomberg.

The plans remain under discussion and could change, according to the report.

Boston Consulting Group is also advising Aramco on the plan, known as Project Gamma, the report added.

Aramco declined to comment, while Evercore did not immediately respond to MT Newswires' request for comment.

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