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Aramco’s CEO expects Saudi Arabia to become World’s third-largest gas producer by 2030 end

Oil hits $105 a barrel as Russia invades Ukraine

Amin Nasser, Saudi Aramco’s President, and CEO predicted that the Jafurah field would generate over two billion cubic feet of gas per day by 2030.

The development of the Jafurah field, according to Al-Nasser, will save the Kingdom from burning half a million barrels of oil per day for energy generation.

“By the end of this decade, we will have surpassed Saudi Arabia as the world’s third-largest natural gas producer,” said Aramco’s CEO.

Prince Abdulaziz bin Salman, Saudi Arabia’s Energy Minister, stated that the project to develop the Jafurah field will not cost the Saudi government more than SAR 5 to 6 billion.

Schlumberger and Halliburton were given contracts to develop the Jafurah field by Aramco.

It’s worth noting that the Jafurah basin covers 17,000 square kilometers and has gas reserves estimated at 200 trillion cubic feet.

A ceremony in Dhahran marked the beginning of work on Saudi Aramco’s unconventional Al-Jafurah field, the Kingdom’s largest non-associated gas field. Saudi Aramco’s integrated gas portfolio will be expanded through this development activity.

Aramco expects production to begin in 2024 from the Jafurah field, which is one of the world’s largest.

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