The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired the Cabinet’s session held at Al-Yamamah Palace on Tuesday.
At the outset of the session, the Custodian of the Two Holy Mosques briefed the Cabinet on the content of the message sent to Mswati III of the Kingdom of Eswatini and the results of his discussions with United States Secretary of State Mike Pompeo reviewing overall regional and international developments and positions and efforts of the two countries towards them.
The Cabinet commended the keenness of the Custodian of the Two Holy Mosques on continuing development efforts, economic diversification, benefiting from the comparative advantages in the Kingdom, and enhancing its leading position in the global energy market.
The Cabinet pointed in this context to the meeting of the Higher Committee for Hydrocarbons chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister citing plans to develop the Jafurah field in the Eastern Region which is the largest unconventional gas field discovered in the Kingdom with a length of 170 km, a width of 100 km.
The stages of developing this field will lead to gradually increasing its production of gas to reach when developed completely 2.2 trillion cubic feet in 2036, representing about 25 percent of the current production.
The field will be able to produce about 130,000 barrels per day of ethane, representing about 40 percent of the current production.
It will also produce 500,000 barrels per day of gas liquids and condensate required for petrochemical industries, which represent about 34 percent of current production.
The Minister of Media, Turki bin Abdullah Al-Shabanah, pointed out in a statement to the Saudi Press Agency after the session that the Cabinet appreciated the directive of HRH Crown Prince that the priority of allocating the production of the Jafurah field of gas and its liquids to the local sectors of industry, electricity, water desalination, mining, and others. This comes to keep pace with ambitious growth rates in accordance with the Kingdom’s Vision 2030.
The Cabinet also praised the great efforts of the Ministry of Energy and Saudi Aramco in the new energy strategy, their pioneering roles in exploration and production, and strengthening the Company’s resources to support economic diversification in the Kingdom.
The Cabinet also commended the positive results, when the development of the fields is completed, on the gross domestic product, providing job opportunities for citizens, achieving the best energy mix for local consumption, supporting the Kingdom’s record in protecting and sustaining the environment, and making the Kingdom one of the most important gas producers in the world to be added to its role as the most important producer of oil.