Saudi Aramco announced that it has received approval to develop the giant Al-Jafoura field, in the eastern region of the Kingdom of Saudi Arabia, which is the largest non-associated and non-conventional gas field discovered, so far, pointing out that the field will be developed, in accordance with the corporate governance system.
On the occasion, Chairman of the Company’s Board of Directors Yasser bin Othman Al-Ramyan expressed deep thanks to His Royal Highness Prince Mohammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, who is also the Chairman of the Supreme Committee for Hydrocarbon Affairs, noting that the development of the field will support the Kingdom's leading position in the global energy sector, and contribute to achieving the company's goal of being the largest integrated energy and chemicals company, at the international level.
For his part, Saudi Aramco President and Chief Executive Officer Eng. Amin Hassan Al-Nasser expressed gratitude and thanks of His Royal Highness Crown Prince, too,
for the great confidence and permanent support for the efforts of the company, extending thanks, also, to Prince Abdulaziz bin Salman bin Abdulaziz Minister of Energy, for the great efforts and continuous support for the company's leading role in exploration and production, indicating that the development of Al-Jafoura field will enhance the diversity of the company's resources and support the economic diversification of the Kingdom, as well.
The dimensions of Al-Jafoura field are estimated at 170 km long and 100 km wide. The volume of gas resources in the field is estimated at 200 trillion cubic feet of raw gas, rich in gas liquids, which are the feedstock for the petrochemical and mineral industries. On the other hand, the development stages of the field, which is expected to start production on the beginning of the Year 2024, to increase the field's gas production gradually to reach about 2.2 billion standard cubic feet per day of selling gas in 2036.
Given the characteristics of the field, it will be able to produce about 425 million standard cubic feet of ethane per day, representing about 40% of the current production, produce about 550 thousand barrels per day of gas liquids and condensates required for the petrochemical industries. Development of Al-Jafoura will be in accordance with the highest environmental standards that Saudi Aramco, always, adheres to.
The company expects that the development of the field will have a positive financial impact, in the long term, and that this financial impact shall begin to appear through the financial results of the company, in phases, synchronized with the work, in progress, related to the development of the field.