To add a statement, details, and background

August 14 (Reuters) - Saudi Aramco said on Thursday it had signed an $11 billion deal to lease and lease back rights to develop and use gas processing and transportation assets at its Jafurah field with a group of international investors.

She added that the investors are led by funds managed by Global Infrastructure Partners (GIP), a subsidiary of asset management giant BlackRock.

"As part of the deal, Jafurah Gas Transmission and Processing Company (JMGC) will lease the development and use rights to the Jafurah gas plant and the Rias natural gas liquids fractionation facility, and lease them back to Saudi Aramco for 20 years," Aramco said in a statement. JMGC is a new subsidiary of Aramco.

"GMGC will receive a tariff paid by Saudi Aramco in exchange for granting it the exclusive right to receive and process raw gas extracted from Jafurah," she added.

This is the latest in a series of borrowing-like financial arrangements that allow the oil-producing kingdom to raise funds to diversify its economy while ensuring a steady flow of revenue for investors.

The Jafurah project, valued at $100 billion, is likely the largest shale gas project outside the United States. It is central to Aramco's ambitions to become a major global natural gas player and increase its gas production capacity by 60 percent by 2030 compared to 2021 levels.

The statement indicated that the Jafurah field's reserves are estimated at "approximately 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensates."

"Saudi Aramco will own a 51 percent majority stake in GMGC, while investors led by GIB will own the remaining 49 percent," he added.

Two sources familiar with the matter told Reuters last July that Saudi Aramco was close to striking a deal to raise about $10 billion from a BlackRock-led group established to invest in the infrastructure of Aramco's Jafurah gas project.

(Press coverage by Enas Al-Ashry and Yomna Ihab - Prepared by Ali Khafagi and Mohamed Ali Farag for the Arabic bulletin)