Saudi Arabian Oil Co., also known as Aramco, has announced a substantial increase in its proven natural gas and condensate reserves at the Jafurah unconventional gas site located in Saudi Arabia.
Reserve Growth
Aramco has confirmed the addition of 15 trillion standard cubic feet of raw gas and two billion stock tank barrels of condensate to its proven reserves at the Jafurah field. This development brings the total estimated resources in the field to 229 trillion standard cubic feet of raw gas and approximately 75 billion stock tank barrels of condensate.
Strategic Importance
The company emphasized its rigorous reserve booking practices, focusing on ensuring the continuity of resources and performance consistency. Aramco views the Jafurah field as a key component of its growth strategy and a vital economic asset for the nation.
Future Outlook
Chief Executive and President Amin H. Nasser highlighted the significance of the Jafurah field in Aramco’s plans to boost gas production. The company aims to achieve a sustainable sales gas rate of two billion standard cubic feet per day by 2030, in addition to extracting substantial quantities of ethane, natural gas liquids, and condensate from the site.
This strategic development underscores Aramco’s commitment to enhancing its gas production capacity and solidifying its position as a leading player in the global energy industry.
