Saudi oil giant Aramco has announced that there has been a major jump in the volume of proven reserves of gas and condensate in its Jafurah unconventional field which has soared to 15 trillion standard cu ft of gas and two billion barrels of condensate.
With this find, the resources at Jafurah are now estimated at 229 trillion standard cu ft of gas and 75 billion barrels of condensates, reported SPA citing the energy minister.
This landmark achievement is a result of Aramco's dedication and applying of the highest international standards in estimating and developing hydrocarbon resources," said Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy.
Jafurah is the kingdom's largest unconventional non-oil associated gas field and it is potentially the biggest shale gas development outside of the US.
In 2020, the Jafurah field was estimated to require investments of $110 billion.
