Saudi Arabia’s state oil organization Aramco (2223. CEO Amin Nasser of SE) announced on Sunday that contracts worth more than $25 billion have been signed for the second phase of expanding its Jafurah gas field and the third phase of expanding its main gas network.
The development of Saudi Arabia’s unconventional gas reserves necessitates cutting-edge extraction techniques like those used in the shale gas industry. Jafurah is the realm’s biggest unpredictable non-oil related gas field and is possibly the greatest shale gas advancement outside the US, with reserves arriving at 229 trillion cubic feet of gas and 75 billion barrels of condensates.
“By creating an expected 2 billion standard cubic feet each day of gas by 2030, this striking drive will fortify Saudi Arabia’s situation as one of the top public gas makers on the planet”, said Nasser, discussing the Jafurah field at an agreements grant service in Dhahran.
He stated that the expansion of the main gas network will include the addition of 4,000 additional kilometers of pipelines, increasing capacity by approximately 3.2 billion standard cubic feet per day and connecting several additional cities across the nation to the network.
Organizations granted agreements for the development in Jafurah incorporated a consortium including Hyundai Designing and Development (000720. KS) Sinopec, a major energy company (600028. SS) was one of the companies involved in expanding the main gas network.
