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23 April 2024


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Saudi Arabia announces major increase in reserves of gas, condensate

BI Desk || BusinessInsider

Published: 00:22, 27 February 2024  
Saudi Arabia announces major increase in reserves of gas, condensate

Photo: Collected

Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud announced Sunday that a significant additional amount of gas and condensate reserves have been proven in the Jafurah field operated by the Saudi state oil company Aramco.

The additional proven reserves include around 15 trillion standard cubic feet of gas, and 2 billion barrels of condensate, the Saudi Press Agency reported.

The minister said that the new finding was achieved by applying the highest international standards in estimating and developing hydrocarbon resources in a way that ensures proper exploitation.

Resources at the Jafurah unconventional field, the largest non-associated gas field in the kingdom, are now estimated at 229 trillion standard cubic feet of gas and 75 billion barrels of condensates, which have been certified by a major independent consulting company specializing in assessing resources and proven reserves, according to the minister, reports BSS/XINHUA.

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