As the largest unconventional gas field in the Middle East (17,000 sq km), Jafurah is set to significantly boost Saudi Arabia's gas production and diversify the company’s portfolio beyond traditional oil.
Estimated resources include 229 trillion standard cu ft (tscf) of raw gas and 75 billion stock tank barrels of condensate. Proven reserves for Jafurah are 15 tscf of raw gas and 2 billion stock tank barrels of condensate.
With an anticipated production of 2 billion standard cu ft per day (bscfd) by 2030 and a projected $100 billion investment over its lifecycle, the project is expected to yield top-tier returns and has the potential to outclass major US shale plays, long considered the benchmark in the industry.
According to a recent Bank of America (BofA) analysis, Jafurah’s development is on track with Phase One set to begin production in Q3 2025.
This story is from the October 2024 edition of Oil and Gas News.
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This story is from the October 2024 edition of Oil and Gas News.
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