Dhahran, February 27, 2024, Aramco, a global leader in integrated energy and chemicals, has significantly augmented the proven reserves of gas and condensate at the Jafurah unconventional field in the Kingdom of Saudi Arabia.
The company has officially recorded 15 trillion standard cubic feet (scf) of raw gas and two billion stock tank barrels (STB) of condensate as proven reserves at Jafurah. This brings the total estimated reserves at Jafurah to 229 trillion scf of raw gas and approximately 75 billion STB of condensate.
These updated assessments utilize an innovative methodology for shale reserve booking, marking the first application of such an approach in the industry. The methodology has the potential for broader deployment on a larger scale.
The process involved a thorough evaluation of reserve booking practices, ensuring the continuity of resources and the consistency of performance. The validity of these estimates was confirmed through technical validation conducted by the renowned industry reserves certification consultancy DeGolyer and MacNaughton. Their independent assessment thoroughly reviewed the statistical booking mechanism, providing assurance of accuracy.
Commenting on this milestone, Aramco President & CEO, Amin H. Nasser, emphasized the significance of this achievement in enhancing the Kingdom’s hydrocarbon wealth. He highlighted Aramco's commitment to deploying cutting-edge technologies, such as advanced modeling and artificial intelligence, in the development of Jafurah. Nasser underscored Jafurah's strategic importance as a growth catalyst for the company and an essential contributor to the Kingdom's economic empowerment.
Currently, efforts are underway to initiate production at Jafurah. The plan is to gradually increase production, targeting a sustainable sales gas rate of two billion scf by 2030, alongside substantial volumes of ethane, Natural Gas Liquids (NGL), and condensate.
