Economics
Saudis to Invest $110 Billion in Jafurah Gas Field
- Field estimated to hold 200 trillion cubic feet of wet gas
- Jafurah to produce 500,000 b/d of gas liquids, condensates
This article is for subscribers only.
Saudi Arabia plans to invest 412 billion riyals ($110 billion) to develop unconventional natural gas reserves in the eastern Jafurah field, according to the kingdom’s official Saudi Press Agency.
Crown Prince Mohammed bin Salman presided over a meeting of the Saudi High Commission for Hydrocarbons on Thursday during which the development plans were reviewed, the agency reported late Friday. The field is estimated to hold 200 trillion cubic feet of wet gas (about 5.7 trillion cubic meters) and its phased development is expected to begin production in 2024, gradually increasing output to 2.2 billion cubic feet per day by 2036, it added.