Saudi Aramco announced today regulatory approval of the development of the Al-Jafoura unconventional gas field in the Eastern Province, the largest non-associated gas field in Saudi Arabia to date. The field development plan is subject to the Company's usual governance process. The Chairman of Saudi Aramco's Board of Directors, Yasser Al-Rumayyan, expressed his thanks to Crown Prince Muhammad bin Salman — deputy premier and minister of defense Chairman of the Supreme Committee for Hydrocarbons Affairs. Al-Rumayyan noted that the development of Al-Jafoura is expected to enhance the Company's position in the global energy sector, and help achieve its goal of being the world's pre-eminent integrated energy and chemicals company. Saudi Aramco President and CEO, Amin Al-Nasser, expressed his gratitude and thanks to Prince Muhammad bin Salman, and to Prince Abdulaziz bin Salman, Minister of Energy for their support. Al-Nasser added that the development of Al-Jafoura is meant to support the Company's diverse resources and the Kingdom's economic development. Al-Jafoura is the largest unconventional non-associated gas field in the Kingdom, with a length of 170 km and a width of 100 km. The volume of gas resources in the field is estimated at 200 trillion cubic feet of rich raw gas, which will provide a valuable feedstock for the petrochemical and metallic industries. The Company expects the field's production, to commence early 2024, to reach approximately 2.2 billion standard cubic feet per day of sales gas by 2036, with an associated approximately 425 million standard cubic feet per day of ethane, representing about 40 percent of current production. The Company also expects the field to produce approximately 550 thousand barrels per day of gas liquids and condensates. Saudi Aramco plans to develop Al-Jafoura in accordance with the highest environmental standards. The Company expects that the development of Al-Jafoura would have a positive financial impact in the long term, which will start to show on the Company's financial results in phases concurrent to the field's development.
