RIYADH, Nov. 29 (Xinhua) -- Saudi Arabian Oil Company (Aramco) announced on Monday awarding a contract worth 10 billion U.S. dollars to develop the vast Jafurah unconventional gas field, the largest non-associated gas field in the kingdom.
The capital expenditure at Jafurah is expected to reach 68 billion dollars over the first 10 years of development, Aramco said in a statement.
With an estimated 200 trillion standard cubic feet of gas in place, the Jafurah basin hosts the largest liquid-rich shale gas play in the Middle East.
The development of Jafurah will positively contribute to the kingdom's energy mix, and it has been made possible thanks to close co-operation between more than 17 different agencies, the Saudi Energy Minister Abdulaziz bin Salman said.
The project is a key component of the company's long-term strategy and Aramco expects total overall lifecycle investment at Jafurah to exceed 100 billion dollars.