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22 February 2020
ECONOMY

Saudi Aramco mulls $110 billion investment in Jafurah unconventional gas field

Crown Prince Mohammed bin Salman had ordered gas produced from Jafurah to be prioritised for domestic industries, including mining to support Saudi Arabia’s Vision 2030 development plan

The Jafurah deposits are estimated to hold 200 trillion cubic feet of wet gas/Bloomberg

by Kudakwashe Muzoriwa

Saudi Aramco plans to invest $110 billion to develop unconventional gas reserves in Saudi Arabia’s Jafurah field, according to local newswire, Saudi Press Agency.

The Jafurah deposits are estimated to hold 200 trillion cubic feet of wet gas and the phased development of the field is expected to gradually increase production to 2.2 trillion cubic feet by 2036 if fully completed.

Additionally, the field was expected to produce 130,000 barrels per day of ethane and 500,000 bpd of gas liquids and condensates.

Crown Prince Mohammed bin Salman aid development of the field would over 22 years provide the government with an annual net income of $8.6 billion and contribute $20 billion to the kingdom’s gross domestic product per year.

Saudi Press Agency said that Saudi Aramco has identified huge gas resources in the Kingdom, the world’s top oil exporter, and is working to develop unconventional reserves in South Ghawar and Jafurah deposits in eastern Saudi Arabia.


RELATED STORIES: Saudi Aramco Crown Prince Mohammed bin Salman Saudi Arabia

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