Saudi Aramco has reportedly tapped two U.S. firms to audit its oil reserves ahead of the company’s highly anticipated initial public offering.
Sources told Reuters that Saudi Aramco has asked Gaffney, Cline and Associates, a unit of Baker Hughes, to perform an audit of its reserves.
Sources also told the news agency that Saudi Aramco has also asked Dallas-based DeGolyer and MacNaughton to conduct some of the audit work.
Saudi Aramco has not commented on the report.
Saudi Aramco is expected to publish the audit results head of its IPO, a move that would a mark the first time it has made its audited reserve figures public.
Saudi Aramco announced its IPO plans last year when it began studying “various options to allow broad public participation in its equity” in either the company as a whole or a bundle of its downstream subsidiaries.
Saudi Aramco CEO Amin Nasser told Bloomberg in October that the IPO will sell shares in the company’s entire business.
Nasser added that the IPO will likely offer a 5 percent stake in Saudi Aramco.
In an interview last year, Saudi Arabian Deputy Crown Prince Mohammed bin Salman said that Saudi Aramco is likely worth more than $2 trillion.
“If 1 percent of Aramco is offered to the market, just 1 percent, it will be the biggest IPO on earth,” Prince Mohammed said in an interview seen by Reuters in April.
According to company data published in 2014, Saudi Aramco had 261.1 billion barrels in recoverable crude oil and condensate reserves in 2014 and produced an average 9.5 million barrels of crude oil that year.
Saudi Aramco has not yet disclosed where it will list the IPO.
The kingdom’s government will keep a controlling interest in the company after the IPO is listed.
Saudi Energy Minister Khalid al-Falih said earlier this month he expects the IPO to be listed sometime in 2018.