Saudi Arabia has found a treasure worth millions of dollars buried underground. This treasure is nothing but 15 trillion cubic feet of gas. It was discovered in the Jafurah area of Saudi Arabia. Saudi Arabia has confirmed that significant additional gas reserves have been found at state oil company Aramco’s giant Jafurah field, which will boost the country’s energy sector.
On Sunday, Saudi Arabia’s energy ministry said that additional reserves held 15 trillion cubic feet of gas and two billion barrels of condensate. This is considered a big discovery for the future policies of Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud.
The Biggest Discovery In Jafurah Area
The Jafurah field is now estimated to contain approximately 229 trillion cf of gas and 75 billion barrels of condensate, Saudi Arabia’s Energy Ministry said, confirmed by “a leading independent consulting company specializing in the field of resource approval and proven reserves.”. “This achievement was achieved as a result of applying the highest international standards in the assessment and development of hydrocarbon resources.”
Many Huge Reserves Of Gas in Jafurah
The Jafurah unconventional gas field is located southeast of the Ghawar oil field in the state’s eastern province. Unconventional resources refer to resources that require advanced extraction methods. Riyadh has committed to developing the field, with Saudi Aramco awarding $10 billion in contracts in 2021.
At the time, capital expenditure at Jafurah – the kingdom’s largest non-associated gas field – was expected to reach $68 billion over the first 10 years of development.
Saudi Arabia Will Become The Largest Natural Gas Producer
With an estimated 200 trillion cubic feet of gas, the Jafurah Basin hosts the Middle East’s largest liquid-rich shale gas play. It covers an area of 17,000 square kilometres. Natural gas production at Jafurah is expected to increase to 2 billion standard cubic feet per day (scfd) of shale gas by 2030, from 200 million scfd in 2025. It will hold 418 million scfd of ethane and approximately 630,000 barrels of gas liquids daily. This would make Saudi Arabia, the Arab world’s largest economy, one of the world’s largest natural gas producers.
