A statement from the company said the field development plan was subject to usual governance process.
On the occasion, the chairman of Saudi Aramco’s board of directors, Yasser bin Othman Al-Rumayyan, expressed his thanks to Crown Prince Mohammad bin Salman.
Al-Rumayyan said the development of Al-Jafurah is expected to enhance the company’s position in the global energy sector, and help achieve its goal of being the world’s pre-eminent integrated energy and chemicals company.
Saudi Aramco president and CEO, Amin H. Nasser, also expressed his gratitude and thanks to the crown prince and to Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy for their support.
Al-Jafurah has a length of 170km and a width of 100km, and the volume of gas resources in the field is estimated at 200 trillion cubic feet of rich raw gas, which will provide the petrochemical and metallic industries.
Aramco expects the field’s production, which will commence early 2024, to reach approximately 2.2 billion standard cubic feet per day of sales gas by 2036, with an associated approximately 425 million standard cubic feet per day of ethane, representing about 40 percent of current production. Aramco also expects the field to produce approximately 550 thousand barrels per day of gas, both liquid and condensate.
The company also plans to develop Al-Jafurah in accordance with the highest environmental standards and expects it will have a positive financial impact in the long term, which will start to show on the company’s financial results in phases concurrent to the field’s development.
