King Salman Chairs Cabinet’s Session at Al-Yamamah Palace

King Salman
King Salman

The Custodian of the Two Holy MosquesKing Salman bin Abdulaziz Al Saud chaired the Cabinet's session held atAl-Yamamah Palace on Tuesday.

At the outset of the session, theCustodian of the Two Holy Mosques briefed the Cabinet on the content of themessage sent to Mswati III of the Kingdom of Eswatini and the results of hisdiscussions with United States Secretary of State Mike Pompeo reviewing overallregional and international developments and positions and efforts of the twocountries towards them.

The Cabinet commended the keenness ofthe Custodian of the Two Holy Mosques on continuing development efforts,economic diversification, benefiting from the comparative advantages in theKingdom, and enhancing its leading position in the global energy market.

The Cabinet pointed in this contextto the meeting of the Higher Committee for Hydrocarbons chaired by His RoyalHighness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and DeputyPrime Minister citing plans to develop the Jafurah field in the Eastern Regionwhich is the largest unconventional gas field discovered in the Kingdom with alength of 170 km, a width of 100 km.

The stages of developing this fieldwill lead to gradually increasing its production of gas to reach when developedcompletely 2.2 trillion cubic feet in 2036, representing about 25 percent ofthe current production.

The field will be able to produceabout 130,000 barrels per day of ethane, representing about 40 percent of thecurrent production.

It will also produce 500,000 barrelsper day of gas liquids and condensate required for petrochemical industries,which represent about 34 percent of current production.

The Minister of Media, Turki binAbdullah Al-Shabanah, pointed out in a statement to the Saudi Press Agencyafter the session that the Cabinet appreciated the directive of HRH CrownPrince that the priority of allocating the production of the Jafurah field ofgas and its liquids to the local sectors of industry, electricity, waterdesalination, mining, and others. This comes to keep pace with ambitious growthrates in accordance with the Kingdom's Vision 2030.

The Cabinet also praised the greatefforts of the Ministry of Energy and Saudi Aramco in the new energy strategy,their pioneering roles in exploration and production, and strengthening theCompany's resources to support economic diversification in the Kingdom.

The Cabinet also commended thepositive results, when the development of the fields is completed, on the grossdomestic product, providing job opportunities for citizens, achieving the bestenergy mix for local consumption, supporting the Kingdom's record in protectingand sustaining the environment, and making the Kingdom one of the mostimportant gas producers in the world to be added to its role as the mostimportant producer of oil.

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