Saudi Aramco has signed contracts worth more than $25 billion for the second phase of expanding its Jafurah gas field and the third phase of upgrading its main gas network, CEO Amin Nasser announced on Sunday.
Saudi Arabia is developing its unconventional gas reserves, which require advanced extraction methods similar to those used in the shale gas industry.
Jafurah is the kingdom’s largest unconventional non-oil-associated gas field and potentially the largest shale gas development outside the United States. It boasts reserves of 229 trillion cubic feet of gas and 75 billion barrels of condensates.
The main gas network expansion will add 4,000 kilometers of pipelines, increasing capacity by approximately 3.2 billion standard cubic feet per day and connecting several additional cities across the country, he said.
Companies awarded contracts for the Jafurah expansion included a consortium with Hyundai Engineering & Construction (000720.KS), while Chinese state energy giant Sinopec (600028.SS) was among the firms involved in the main gas network expansion.
