Singaporean officials are reportedly exploring ways to entice Saudi Aramco to list its initial public offering in the country.
Sources familiar with the matter told Bloomberg Quint that Singapore’s government is exploring a slew of possible options to help win the listing.
The sources told Bloomberg that Singaporean officials are investigating proposals that could include asking one of its state-owned investment firms to be a cornerstone investor for the IPO.
Sources also told Bloomberg that Singaporean officials are also studying a proposal that would call for Singapore to cooperate with Saudi Arabia on future investments.
Several other countries are also vying for the chance to the list the IPO.
A spokesperson with TMX Group, the owner of the Toronto Stock Exchange, told Bloomberg Quint that TMX sent officials to Saudi Arabia as part of a Canadian consortium looking to participate in the IPO.
Saudi Aramco has not yet announced an exchange where it will list its IPO.
Saudi Energy Minister Khalid al-Falih said at the start of the year that he expects the IPO will be listed sometime in 2018.
Nasser told Bloomberg in October that the IPO will likely offer a 5 percent stake in Saudi Aramco.
Saudi Arabia’s government is expected to continue holding a controlling interest in the oil giant.
Saudi Aramco is expected to publish audited reserve figures ahead of the IPO.
Sources told Reuters last month that Saudi Aramco has asked Gaffney, Cline and Associates, a unit of Baker Hughes, to conduct the audit.
The state-owned company also reportedly asked Dallas-based DeGolyer and MacNaughton to conduct some of the audit work.
Saudi Aramco reported 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.
The company said in its 2015 annual review that it produced an average of 10.2 million barrels of crude per day that year.