The recent discovery of substantial natural gas reserves at Saudi Arabia’s Jafurah field represents a significant boon to the country’s energy sector. Owned by the state oil company Aramco, this discovery further solidifies Saudi Arabia’s position as a key player in the global energy market.
With approximately 15 trillion cubic feet of natural gas and two billion barrels of condensate unearthed, the total estimated resources at Jafurah now stand at a staggering 229 trillion cubic feet of gas and 75 billion barrels of condensate. This abundance of resources underscores the field’s importance and potential for long-term economic growth.
Located southeast of the renowned Ghawar oilfield, Jafurah is an unconventional gas field, necessitating specialized extraction methods. Despite the challenges associated with extracting unconventional resources, Saudi Arabia is committed to developing Jafurah. In 2021, Aramco initiated contracts valued at $10 billion for this purpose, with an anticipated total expenditure of $68 billion over the first decade of development.
Spanning an expansive 17,000 square kilometers, Jafurah is poised to become a significant producer of natural gas and other valuable substances crucial to various industries. By 2030, production is projected to reach an impressive 2 billion cubic feet per day, marking a substantial increase from the 200 million cubic feet per day expected by 2025.
This ambitious project positions Saudi Arabia as one of the world’s foremost natural gas producers. Aramco’s commitment to investing over $100 billion in Jafurah underscores the magnitude of the endeavor and its potential long-term benefits. Moreover, the project is expected to generate over 200,000 jobs directly and indirectly within Saudi Arabia, providing a significant boost to the country’s economy and employment opportunities.
The development of the Jafurah field represents a transformative milestone for Saudi Arabia’s energy sector. With abundant natural gas reserves and ambitious development plans, the project holds the promise of significant economic growth, job creation, and enhanced global energy prominence for the kingdom.
