2024/2/27
On February 25, Saudi Arabia's Energy Minister, Abdulaziz bin Salman, announced that the state-owned oil company, Saudi Aramco, has discovered additional reserves in the Jafurah field, comprising 15 trillion standard cubic feet of natural gas and 2 billion barrels of condensate.
The Jafurah field now holds a total of 229 trillion standard cubic feet of natural gas and 75 billion barrels of condensate. Spanning an area of 17,000 square kilometers (170 km long and 100 km wide), it is considered Saudi Arabia's largest unconventional oil field, referring to resources that require specialized extraction methods.
The anticipated natural gas production from Jafurah is projected to increase from 200 million standard cubic feet of shale gas per day in 2025 to 2 billion standard cubic feet per day by 2030. This includes an estimated ethane production of 418 million standard cubic feet per day and a liquefied petroleum gas production of around 630,000 barrels per day.
Saudi Aramco, the state-owned oil giant, is spearheading the development of the Jafurah field, with a substantial investment of 412 billion Saudi riyals (approximately 110 billion USD).