Saudi Energy Minister Prince Abdulaziz bin Salman recently announced the Jafurah gas field project, which is set to provide the Kingdom with two million cubic feet of gas daily during peak times. This project is part of Saudi Arabia’s initiative to increase gas production by 63 percent by 2030, with production set to rise to 21.3 billion cubic feet per day from the current 13.5 billion. The Jafurah gas field, the largest non-associated gas field in the Kingdom, is estimated to contain around 200 million scf of natural gas, which will help reduce emissions and provide feedstock for future low-carbon fuels.
The signing ceremony for the contracts for the second phase of the Jafurah gas field project and the third phase of the main gas network expansion project of Saudi Aramco took place in Dhahran. The completion of these projects is expected to contribute about $20 billion annually to the Saudi GDP. Prince Abdulaziz emphasized the importance of increasing exploration and discovery projects in collaboration with Saudi Aramco to prepare the economy for post-2030 expansions and achieve the Kingdom’s 2040 goals. The minister highlighted the need to start work on these projects now to ensure readiness for future economic demands.
Prince Abdulaziz noted that working with Saudi Aramco since 2019 has helped establish a clear vision for the Kingdom’s energy mix goals. The Jafurah field and the gas network expansion projects are a direct result of this collaboration. These projects play a crucial role in reducing carbon dioxide emissions by stopping the burning of associated gas, leading to a significant environmental impact. This aligns with the objectives of the Saudi Green Initiative, which aims to preserve the environment and create a sustainable future for the Kingdom.
The minister also highlighted Saudi Arabia’s low methane emissions rate in the oil and gas sector, emphasizing the country’s commitment to environmental sustainability. With a methane emissions rate of 0.05 percent, Saudi Arabia is ranked second globally, showcasing its efforts to minimize greenhouse gas emissions. Prince Abdulaziz praised the capabilities and resources of Aramco, stating that the company is well-equipped to develop proactive programs that align with the future needs of the local economy. By leveraging its expertise and resources, Saudi Arabia aims to advance its sustainability goals while promoting economic growth and diversification.
In conclusion, the Jafurah gas field project and the expansion of the gas network represent significant milestones in Saudi Arabia’s energy strategy. These projects will not only enhance the Kingdom’s gas production capacity but also contribute to reducing emissions and fostering a more sustainable energy sector. Through collaborations with industry partners like Saudi Aramco, Saudi Arabia is poised to achieve its long-term economic and environmental objectives, positioning itself as a global leader in clean energy initiatives. With a clear vision and commitment to innovation, the Kingdom is on track to build a resilient and environmentally conscious energy sector for the future.
