RIYADH — Saudi Aramco President and CEO Amin Nasser said that the initial operation of Jafurah gas field is expected to start later this year. "This would enhance Saudi Aramco's capabilities in the gas sector," he said. The Jafurah field, owned and operated Saudi Aramco, is an onshore gas development project located in the Eastern Province. It is recognized as the Kingdom's largest unconventional non-associated gas field. Nasser said that Aramco is well positioned for the future in terms of refining and distribution activities, despite some unfavorable conditions in the market. He stressed that the market is at record levels and is strong, which reflects confidence in the company's future performance. The Aramco chief said the decision of OPEC+ to gradually increase production will positively impact companies, which enhances market stability. "There are other matters in the implementation phase regarding liquefied natural gas investments, and they will be announced in due course," he said. According to Nasser, the strong net income and increasing core dividends underscore Saudi Aramco's exceptional flexibility and ability to leverage its unique scale, low production costs, and high levels of reliability to deliver industry-leading performance to shareholders and customers. "Global oil demand reached new highs in 2024, and we expect further growth in 2025. As reliable and sustainable energy is key to the growth of the global economy, we continue to make progress on projects that will maintain our maximum sustainable crude oil production capacity, expand our gas capabilities, and further integrate our upstream and downstream businesses to create added value and help reduce greenhouse gas emissions," he added.
