Saudi Arabia to invest $110bn to develop Jafurah gas field
Kingdom planning a $110bn investment to develop the largest unconventional non-associated gas field in the country
Saudi Aramco has announced regulatory approval for the development of the Jafurah unconventional gas field in the eastern province of Saudi Arabia, subject to the company’s usual governance process. Jafurah is the largest unconventional non-associated gas field in the Kingdom and is about 170 km in length and 100 km in width.
According to a statement from Saudi Aramco, the volume of gas resources in the field is estimated at 5.6 trillion cu m of rich raw gas, which will provide a valuable feedstock for the petrochemical and metallic industries.
Saudi Aramco also said that it expects the field’s production to commence in early 2024, to reach approximately 62.2 million standard cu m per day of sales gas by 2036, with an associated approximately 12 million standard cu m per day of ethane, representing about 40 per cent of the current production.
Amin Nasser, president and CEO of Saudi Aramco, said the development of Jafurah was meant to support the company’s diverse resources and the kingdom’s economic development. Saudi Aramco plans to develop Jafurah in accordance with the highest environmental standards and expects that its development will have a positive impact in the long term, he added.
This will start to show on the company’s financial results in phases concurrent to the field’s development, and the company also expects the field to produce approximately 550,000 barrels per day of gas liquids and condensates, Nasser stated.
Yasser bin Othman Al Rumayyan, the Saudi Aramco board chairman said the development of Jafurah was expected to enhance the company’s position in the global energy sector, and help achieve its goal of being the world’s pre-eminent integrated energy and chemicals company.
