Jafurah gas field expected to contribute $23bln annually to: Saudi Aramco CEO
Nasser made the remarks while addressing the seventh session of the Al-Ahsa Investment Forum 2025, organized by the Al-Ahsa Chamber of Commerce and Industry. The forum is being held under the patronage of Eastern Province Emir Prince Saud bin Naif, and in the presence of Al-Ahsa Governor Prince Saud bin Talal bin Badr. Several ministers, officials, experts, consultants, and an elite group of local and international company presidents and executives, as well as businessmen and businesswomen are participating in the two-day event.
In his speech, Al Nasser stressed that Al-Ahsa is an integral part of Saudi Aramco's history. 'For decades, Al-Ahsa hosted a number of the company's most important and largest business zones. Aramco has expanded in recent years in launching giant projects and qualitative initiatives that enhance investment opportunities and generate job opportunities in Al-Ahsa, and contribute to increasing the local production and stimulate the economic cycle," he said while noting that Al-Jafurah field, the largest shale gas field being developed in the Middle East, is considered as the crown jewel among shale gas fields.
Nasser said that the total investments in the Al-Jafurah project amounted to more than $100 billion over the next 15 years. "It is a very important project for Saudi Arabia in the context of Vision 2030, and also for Saudi Aramco to achieve our goal of increasing gas capacity by more than 60 percent by 2030," he said.
The Aramco chief expected that the production capacity of Al-Jafurah would reach about two billion standard cubic feet per day of sales gas by 2030, saying that this will enhance Saudi Arabia's position as one of the most important gas producers in the world.
Referring to King Salman Energy Park (SPARK), which is a giant industrial system, the Aramco chief said that the development of the first phase of the project has been completed. "We have succeeded in attracting more than 60 local and international investors with investments exceeding SR12 billion, and a total of direct and indirect jobs exceeding 40,000 jobs. Several factories have started actual operation, and others are on the way, and today all of Saudi Aramco's drilling and logistical support operations for all oil and gas fields in Saudi Arabia are managed from SPARK. The first and largest private dry port in the Eastern Province is also being developed with a capacity of 10 million metric tons of goods annually upon completion of all its phases," he said adding that the port will be operational in stages, starting in the second quarter of this year.
Regarding Saudi Aramco's efforts to preserve the environment, Nasser said: 'Saudi Aramco has a long history of protecting the environment through qualitative projects and initiatives. We are cooperating with King Faisal University to establish a center for nature-based solutions. Research projects have also been initiated to study mangrove trees in Saudi Arabia, as part of our efforts to combat climate change and support the Green Saudi Arabia and Green Middle East initiatives.'
In the context of enhancing the citizenship strategy, he confirmed that the company has launched many initiatives to create an appropriate educational environment for male and female students from various segments of society, including the project to establish the largest center for people with disabilities in the region, which is making progress and will be completed by February 2026.
Saudi Aramco, the strategic partner of Al-Ahsa Investment Forum 2025, aims to highlight investment opportunities in the public and private sectors, as the forum is a platform to promote investment in Al-Ahsa, and highlight the company's role in supporting investment opportunities in the energy sector, in addition to economic development in Saudi Arabia in general and Al-Ahsa governorate in particular.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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