Saudi Aramco is repaying industry faith that a bonanza of oil and gas contract awards in the Middle East is on the way. The Saudi energy giant announced $10bn of awards for its huge Jafurah unconventional gas development on 29 November. This is slated to underpin a massive nationwide gas expansion over the next decade.
By 2030, Aramco says it plans for Jafurah production to reach 2bn cfd of sales gas (around 330,000 boe/d), alongside 418mn cfd of ethane and 630,000 b/d of NGLs and condensate. Originally, Aramco last year said that it was targeting full production of 2.2bn cfd sales gas (around 370,000 boe/d), 425mn cfd of ethane and some 550,000 b/d of NGLs and condensate (MEES, 28 February 2020) by 2036. Essentially, the reserves have turned out to be even more liquids-rich than initially expected, and development has been expedited. (CONTINUED - 1627 WORDS)