Saudi Aramco plans to invest $110 billion in developing unconventional gas reserves in Al-Jafoura field, as reported by the Saudi Press Agency (SPA).
The field is considered the largest non-conventional and non-associate gas field in the kingdom. Gas resources in the field are estimated at 200 trillion cubic feet (tcf) of wet gas. This is anticipated to gradually increase production to 2.2 tcf by 2036.
It is expected that Al-Jafoura field will produce approximately 130,000 barrels per day (bbl/d) of ethane, which forms around 40% of the current production. It will also produce 500,000 bbl/d of gas and condensates, which accounts for about 34% of the current production.
Prince Mohammad bin Salman, Crown Prince and Deputy Prime Minister and Minister of Defense, noted that the field will reflect in 22 years; a net income for the government of about $8.6 billion per year.
Moreover, and in line with the Kingdom’s vision 2030, the Crown Prince added that the priority for allocating the field’s production of gas and liquids will be given to local sectors.