NEWS

ecently, Saudi Arabia's state-owned energy giant Saudi Aramco announced that it will officially develop the largest unconventional gas field in its territory and has signed a contract worth $10 billion for the field.

It is understood that the field, with natural gas reserves of approximately 200 trillion cubic feet, is expected to begin production in early 2024, and by 2036, the field will produce 2.2 billion cubic feet per day of shale gas, 418 million cubic feet per day of ethane, and approximately 630,000 barrels per day of natural gas condensate and condensate, and is expected to contribute $20 billion per year to Saudi Arabia's domestic GDP per year.

Saudi Arabia currently ranks among the top five countries in the world in terms of unconventional gas reserves, and the launch of the field project is expected to put Saudi Arabia among the world's leading shale gas producers within three years, according to Saudi media outlet Arab News. Saudi Energy Minister Abdulaziz bin Salman also said with confidence that the development of the Jafurah gas field would make Saudi Arabia the world's third largest gas producer by 2030.