Jufarah field development to positively impact Saudi Aramco, says Nasser

Saudi Aramco’s President and Chief Executive Officer Amin Nasser, said that the development of Jafurah field will have a very positive impact on the company.

The new shale gas development would help the Kingdom reduce crude and fuel burning, which hit an average of 800,000 barrels per day of crude and fuel for electricity in 2019, Nasser said.

Jafurah field will reduce reliance on liquid fuel for electricity, enhance efficiency, cut costs and reduce emissions, Nasser told Al-Arabiya TV.

It is the biggest unconventional shale gas field outside North America. Reserves in Jafurah are estimated at 200 billion cubic feet of gas liquids and condensates.

Aramco has drilled 150 wells since 2013 in the Jafurah shale gas field to prepare the development plan, he added.

Earlier this week, Saudi Aramco received regulatory approval for the development of Jafurah unconventional gas field in the Eastern Province, Argaam reported.

The field development would provide the Saudi government with an annual net income of SAR 32 billion ($8.6 billion) over 22 years, Crown Prince Mohammed bin Salman said.