DUBAI, May 30 (Reuters) - Saudi Aramco has

published a new prospectus for its issuance programme of Islamic

bonds or sukuk, signalling the state oil major may soon tap the

debt markets again after it raised $5 billion from a three-part

bond sale this week.

The prospectus, submitted to the London Stock Exchange where

the sukuk would be listed, is dated May 30. Aramco has a year to

issue sukuk under its terms.

Aramco earlier this week raised $5 billion from a sale of

conventional bonds. The borrowing comes after economic

uncertainty and rising supply hit crude markets, denting the top

oil exporter's profits.

"Aramco is likely looking to take advantage of a window of

relative market calm to issue debt again," said Zeina Rizk,

co-head of fixed income at Amwal Capital Partners.

Aramco in March said it expected to slash its dividend this

year by nearly a third as profits and free cash flow decline.

Reuters reported last week that Aramco is exploring

potential asset sales to free up funds as it pursues

international expansion and weathers lower crude prices.

The Saudi government is heavily reliant on generous payouts

from Aramco, its longtime cash cow, also including royalties and

taxes. Oil receipts made up 62% of state revenue last year.

The government does not disclose at which crude price its

books are balanced. The IMF estimates it needs oil at over $90 a

barrel for a balanced budget. Brent crude was trading

around $64.4 on Friday.

Citi, HSBC and JPMorgan are the arrangers of the sukuk

programme and are joined as dealers by First Abu Dhabi Bank,

Goldman Sachs, Morgan Stanley, SNB Capital and Standard

Chartered.