Saudi Aramco bringing shale gas revolution to Arabian Desert

Core Insights - The shale revolution is expanding into Saudi Arabia, with Aramco advancing a natural gas megaproject that could significantly increase the kingdom's revenues in the coming years [1][3] Group 1: Project Overview - Aramco is collaborating with U.S. and Chinese firms, such as Halliburton and Sinopec, to utilize advanced drilling technologies at the Jafurah basin [2] - The Jafurah project, with an investment of $100 billion, aims to raise gas production targets and position Saudi Arabia as a major global player in natural gas [3] - Jafurah is estimated to hold 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, making it potentially the largest shale gas development outside the U.S. [3] Group 2: Strategic Importance - The project is crucial for Saudi Arabia's Vision 2030 agenda, which seeks to diversify the economy away from oil dependency by replacing crude oil used for power generation with natural gas [4][5] - Aramco's strategy includes replacing 500,000 barrels per day (bpd) of crude oil with gas by 2030, which could generate nearly $12.8 billion in annual revenue at current prices [7] Group 3: Production Milestone - Aramco officially announced the start of production at Jafurah, marking a significant milestone for the project, with output beginning in December 2025 [6] - The early performance of wells at Jafurah has been described as outstanding, validating Aramco's high-tech approach and emphasizing the project's importance to its gas growth strategy [7]