Saudi Aramco, the state-run energy giant of Saudi Arabia, has announced the discovery of an additional 15 trillion cubic feet (Tcf) of natural gas and 2 billion barrels of condensate in the onshore Jafurah unconventional field. This discovery marks a significant milestone in the kingdom’s efforts to expand its gas production capabilities.
According to Energy Minister Prince Abdulaziz bin Salman, the recent discoveries have increased the field’s proven reserves to 229 Tcf of gas and 75 billion barrels of condensate. These findings were reported by the official Saudi Press Agency on February 25th.
The exploration efforts were conducted in collaboration with a major independent consulting company specialized in resource assessment, as stated in the official statement.
In light of the country’s expanding power mix and the growing importance of gas in domestic energy consumption, Saudi Arabia has prioritized the exploration and development of gas resources. This decision was reinforced by the recent suspension of a planned 1 million barrels per day oil capacity expansion slated for 2027.
Aramco’s ambitious unconventional gas program aims to displace up to 500,000 b/d of crude oil currently used in domestic energy consumption. The company plans to increase gas production by 50 percent by 2030, investing significant resources into the development of the Jafurah unconventional field.
Saudi Aramco CEO Amin Nasser highlighted the company’s commitment to gas projects, emphasizing that savings from the cancelled oil capacity expansion would be redirected towards gas development initiatives and maintaining oil capacity potential.
To support its unconventional gas exploration program, Aramco recently signed five-year contracts with local energy services company Arabian Drilling to supply three land rigs. These rigs, along with full crews, will be dedicated to Aramco’s gas exploration activities, further advancing the kingdom’s gas production goals.
In addition to its domestic efforts, Aramco has expanded its presence in the LNG sector through the acquisition of a minority stake in EIG’s MidOcean Energy last September, signaling the company’s strategic diversification and continued focus on expanding its energy portfolio.
For more information visit www.aramco.com
