Saudi Aramco to spend $68bln to develop its giant Jafurah gas field

The first phase will cost $24bln

  
Chief Executive Officer of ARAMCO, Amin Nasser speaks during an interview with REUTERS in Dhahran, Saudi Arabia, December 13, 2017.

Chief Executive Officer of ARAMCO, Amin Nasser speaks during an interview with REUTERS in Dhahran, Saudi Arabia, December 13, 2017.

REUTERS/Hamad I Mohammed
Dhahran: Aramco is spending $68 billion to develop its giant unconventional gas field Jafurah, the company's CEO said in media briefing at the firm's headquarter in Dhahran.

Responding to Arab News' question on the cost of the project, Amin Nasser stated that the first phase will cost $24 billion and will be completed by end if 2024, early 2025.

The second phase, he added, will cost $44 billion and will add up to 2 billion standard cubic feet per day of sales gas, and around 600,000 barrels per day of condensates — a very light type crude oil.

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