Saudi Aramco says Jafurah unconventional gas promising
Date
3/30/2016 11:09:10 PM
AL-AHSA Saudi Arabia: Saudi Aramcois assessing the unconventional Jafurah gas basinwhich it says is promising its CEO said on Wednesday as theworld's largest oil exporter plans to boost gas production forpower and chemical industries.
Saudi Aramco has launched its exploration campaign to lookfor unconventional gas in the northwest area the EasternProvince and the Empty Quarter.
Jafurah is in southeast of Ghawar the world's largestconventional oilfield.
"Our exploration efforts have resulted in finding bigvolumes of shale gas in the Jafurah Basin close to Ahsa theyare highly promising quantities and economically feasible asthey contain a high rate of liquids; activities to evaluate thereserves are ongoing" Amin Nasser told a conference.
"The recent unconventional gas field in the nearby Jafurahbasin is very promising we are still assessing its potentialbut it could be a game changer for Al Ahsa in terms of creating
more opportunities new engines for growth" Nasser told aninvestment forum in Al Ahsa.
Nasser told the forum the focus is on manufacturing morespeciality petrochemicals instead of low-value basicpetrochemical commodity.
"However this downstream expansion will rely on asubstantial expansion of our upstream gas."
Nasser said earlier this month that Aramco plans to doublegas production to 23 billion standard cubic feet per day of gasin a decade.
On Wednesday he could not give a breakdown of how much ofthe new gas will go the petrochemicals sector.
As part of plans to boost local industry and create jobsSaudi Aramco is also planning to develop an energy industrialcity 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.
Reuters