Aramco says Jafurah unconventional gas promising
Saudi Aramco is assessing the unconventional Jafurah gas basin which it says is promising; CEO says Aramco it plans to boost gas production for power and chemical industries
Saudi Aramco is assessing the unconventional Jafurah gas basin which it says is promising, its CEO recently said, as the world's largest oil exporter plans to boost gas production for power and chemical industries.
Saudi Aramco has launched its exploration campaign to look for unconventional gas in the northwest area, the Eastern Province and the Empty Quarter.
Jafurah is in southeast of Ghawar, the world's largest conventional oilfield.
"Our exploration efforts have resulted in finding big volumes of shale gas in the Jafurah Basin close to Ahsa, they are highly promising quantities and economically feasible as they contain a high rate of liquids; activities to evaluate the reserves are ongoing," Amin Nasser told an investment conference.
"The recent unconventional gas field in the nearby Jafurah basin is very promising, we are still assessing its potential but it could be a game changer for Al Ahsa in terms of creating more opportunities new engines for growth," Nasser told the forum in Al Ahsa.
Nasser mentioned that the focus is on manufacturing more specialty petrochemicals, instead of low-value basic petrochemical commodity.
"However this downstream expansion will rely on a substantial expansion of our upstream gas."
Nasser last month said Aramco plans to double gas production to 23bn standard cubic feet per day of gas in a decade.
As part of plans to boost local industry and create jobs, Saudi Aramco is also planning to develop an energy industrial city between Al Ahsa and Dammam which includes manufacturing oil and gas equipment and drilling centres for Aramco.
These plans are still being studied, Nasser told reporters.