Saudi Arabia's Aramco secures over $25 billion in deals

WORLD  01 July 2024 - 10:23

CEO of Saudi Arabia's Aramco state oil company Amin Nasser has said that the company signed contracts exceeding $25 billion for the second phase expansion of its Jafurah gas field and the third phase expansion of its main gas network.

Saudi Arabia aims to develop its unconventional gas reserves, utilizing advanced extraction methods akin to those employed in the shale gas industry, Caliber.Az reports citing the foreign media.

Jafurah, the kingdom's largest unconventional non-oil associated gas field, boasts reserves of 229 trillion cubic feet of gas and 75 billion barrels of condensates, potentially making it the largest shale gas development outside the US.

"At a contracts award ceremony in Dhahran, Nasser highlighted that the Jafurah field's anticipated production of two billion standard cubic feet per day of sales gas by 2030 will solidify Saudi Arabia's position as a leading global gas producer. Regarding the main gas network expansion, he stated that an additional 4,000 kilometres of pipelines will be added, increasing capacity by approximately 3.2 billion standard cubic feet per day and connecting several new cities across the country to the network.

Contracts for the Jafurah expansion were awarded to a consortium including Hyundai Engineering & Construction, while Chinese state energy giant Sinopec was among the firms involved in expanding the main gas network."

Aramco state oil company is a leading producer of the energy and chemicals that drive global commerce and enhance the lives of people around the globe.

Caliber.Az