Saudi Aramco, the state-owned oil giant has signed contracts exceeding $25 billion for the development of the Jafurah gas field and the expansion of the country's main gas network.

As reported by Reuters on Sunday, June 30, the deals, announced by Aramco CEO Amin Nasser, cover the second phase of the Jafurah project and the third phase of the Master Gas System (MGS) expansion. 

Jafurah is Saudi Arabia's largest unconventional gas field, utilizing extraction techniques similar to those employed in the U.S. shale gas industry.

"By generating an anticipated 2 billion standard cubic feet per day of sales gas by 2030, this bold initiative will strengthen Saudi Arabia's position as one of the top national gas producers in the world," CEO Nasser said at a contracts award ceremony in Dhahran.

Jafurah boasts an estimated reserve of 229 trillion cubic feet of natural gas and 75 billion barrels of condensate liquids. The project aims to significantly increase gas production, with a target of over 60% growth in sales of gas by 2030 compared to 2021 levels.

The MGS expansion, involving the construction of 4,000 kilometers of new pipelines, will enhance the network's capacity by 3.2 billion standard cubic feet per day, connecting additional Saudi cities to the national gas grid.

Specific details on awarded contracts were limited. However, Aramco did acknowledge a consortium led by Hyundai Engineering & Construction's involvement in Jafurah's development, and mentioned Chinese energy giant Sinopec among the companies participating in the MGS expansion.