Saudi Arabia plans $110bn investment in Al-Jafurah unconventional gas field

Saudi Aramco plans to invest $110 billion to develop unconventional gas reserves in Saudi Arabia’s Al-Jafurah field. (SPA)
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Updated 22 February 2020

Saudi Arabia plans $110bn investment in Al-Jafurah unconventional gas field

  • Al-Jafurah deposits are estimated to hold 200 trillion cubic feet of wet gas
  • Al-Jafurah is southeast of Ghawar, the world’s largest conventional oilfield

RIYADH: Saudi Aramco plans to invest $110 billion to develop unconventional gas reserves in Saudi Arabia’s Al-Jafurah field, Saudi Press Agency (SPA) reported on Friday.

The development plans were reviewed by the Saudi High Commission for Hydrocarbons in a meeting chaired by Crown Prince Mohammed bin Salman.

The Al-Jafurah deposits are estimated to hold 200 trillion cubic feet of wet gas and the phased development of the field is expected to gradually increase production to 2.2 trillion cubic feet by 2036 if fully completed, SPA said.

The crown prince said development of the field over 22 years would provide the government with an annual net income of $8.6 billion and contribute $20 billion to the kingdom’s gross domestic product per year, according to the agency.

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The field is expected to produce 130,000 barrels per day of ethane and 500,000 bpd of gas liquids and condensates.

Al-Jafurah is southeast of Ghawar, the world’s largest conventional oilfield.

Unconventional gas refers to reserves requiring advanced extraction methods, such as those used in the shale gas industry.

SPA said the crown prince ordered gas produced from Al-Jafurah to be prioritized for domestic industries, including mining, to support the Kingdom’s Vision 2030 development plan.

(With Reuters/SPA)


Emirates launches airbridge between Dubai, Lebanon emergency relief 

Updated 56 min 10 sec ago

Emirates launches airbridge between Dubai, Lebanon emergency relief 

  • Customers of Emirates will be able to donate cash or pledge their Skywards Miles to the airline for the aid
  • Emirates SkyCargo will also provide 20 percent reduction on air freight transportation charges for approved shipments

DUBAI: UAE national carrier Emirates SkyCargo plans to ramp up its freighter operations to Lebanon with 50 flights to deliver emergency relief in the wake of the Beirut port blast that killed nearly 200 people.
Customers of Emirates will be able to donate cash or pledge their Skywards Miles to the airline for the aid, state news agency WAM reported.
The Emirates Airline Foundation will coordinate shipments of urgent food, medical supplies with NGO partners to ensure donations directly help those affected on the ground.
Emirates SkyCargo will also provide 20 percent reduction on air freight transportation charges for approved shipments, underscoring its commitment to expedite emergency relief efforts to Beirut.
“Today, the world is banding together to stand in solidarity with Lebanon, providing urgent relief and immediate recovery support to those affected by this tragic disaster,” Chairman and Chief Executive of Emirates Airline & Group, Sheikh Ahmed bin Saeed Al-Maktoum, said. 
“Emirates supports the UAE’s ongoing humanitarian efforts to support Lebanon and is committed to bolster its global emergency response to ensure that it can support organizations which provide urgent care, shelter, food and medical support to the Lebanese people,” he added. 
Emirates said that it had dispatched several charter flights carrying food, clothing and medical supplies donated by various grassroots organizations in the UAE to Lebanon.