Thursday 9 April 2020

Aramco announces plans to develop giant gas field

DHAHRAN (Saudi Arabia), February 22, 2020

Saudi Aramco has announced regulatory approval for the development of the Jafurah unconventional gas field in the Eastern Province of Saudi Arabia. 
Jafurah is the largest unconventional non-associated gas field in the kingdom running 170 km long and 100km wide.
The volume of gas resources in the field is estimated at 200 trillion cu ft of rich raw gas, which will provide a valuable feedstock for the petrochemical and metallic industries.
Thanking HRH Prince Mohammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defence and Chairman of the Supreme Committee for Hydrocarbons Affairs, the Saudi Aramco Board Chairman Yasser bin Othman Al Rumayyan 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.
President and CEO Amin H. Nasser said the development of Jafurah was meant to support the company’s diverse resources and the kingdom’s economic development.
Saudi Aramco said it expects the field’s production, to commence early 2024, to reach approximately 2.2 billion standard cu ft per day of sales gas by 2036, with an associated approximately 425 million standard cu ft per day of ethane, representing about 40 per cent of current production. 
Nasser said Saudi Aramco plans to develop Jafurah in accordance with the highest environmental standards.
It expects that the development of Jafurah would have a positive financial impact in the long term, which will start to show on the company’s financial results in phases concurrent to the field’s development.
The company also expects the field to produce approximately 550,000 barrels per day of gas liquids and condensates, he added.
According to Saudi Aramco, the field development plan is subject to the company’s usual governance process.-TradeArabia News Service



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