Search Site

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Aramco produces first unconventional tight gas

Aramco is one of the world’s leading energy and chemicals' companies.
  • Commissioned facilities at South Ghawar have a 300 million standard cubic feet per day (scfd) of raw gas processing capacity
  • Work is also progressing at the giant Jafurah unconventional gas field, which is the largest liquid-rich shale gas play in the Middle East

Dhahran, Saudi Arabia – Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first unconventional tight gas from its South Ghawar operational area two months ahead of schedule. The development supports Aramco’s strategy to increase gas production by more than half over 2021 levels, through 2030, subject to domestic demand.

 Commissioned facilities in South Ghawar have a 300 million standard cubic feet per day (scfd) of raw gas processing capacity and 38,000 barrels per day (bpd) of condensate processing capacity. 

In response to growing demand for gas, the company will continue its work to more than double the overall processing capacity in order to achieve South Ghawar’s strategic goal of delivering 750 million scfd of raw gas in the near future.

“This first production of unconventional tight gas from South Ghawar is a milestone that demonstrates real progress on our gas expansion strategy, which we believe has a role to play in meeting the Kingdom’s needs for lower-emission energy and supporting growth in the chemicals sector,” Nasir Al-Naimi, Aramco Upstream President, said. 

“The ability to commence production two months ahead of schedule and below budget is testament to the unwavering dedication of our people and their determination to continuously enhance our Upstream operations,” he added.

 Successful production of tight sand gas at South Ghawar represents Aramco’s second unconventional gas stream, after production commenced at the North Arabia field in 2018 with the delivery of 240 million scfd to customers in Wa’ad Al-Shamal. 

Work is simultaneously progressing at the giant Jafurah unconventional gas field, which is the largest liquid-rich shale gas play in the Middle East