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Saudi Arabia is well known for its huge unexploited natural gas resources. There has been a lack of investment in the gas sector due to highly subsidised prices, increasing production, exploration and processing costs of gas. A strategy was put in place back in 2006 to add 50Tcf of non-associated reserves between 2006 and 2016 through new discoveries. Approximately three hundred development and exploratory wells are reportedly being planned by 2010.
According to Saudi Aramco, exploration and development will also be commencing in non-producing areas such as the Red Sea, Nafud basin and northern and western Saudi Arabia.
UPDATE: Saudi Arabia has announced new projects in the Kingdom. These developments look set to change the country’s gas outlook for good. It was announced recently that the largest ever gas plant in the Kingdom is to be built in order to supply utilities and some industries. The new gas plant is expected to process more than 1.8 billion cubic feet per day (cfd) of gas. It will process all offshore non associated dry gas and this will go a long way to meet rising demand for utilities and some industries.
The Wasit gas development programme at Manifa is split into several projects that include building gas processing facilities, two offshore gas platforms, one tie-in platform, subsea power and communication links and pipelines.
Canada’s SNC-Lavalin said in September that it would provide engineering and design work and project management services for the project.
Yanbu
Snapshot: Yanbu is a joint venture between Saudi Aramco and ConocoPhillips. It is a full conversion refinery designed to process 400 000bpd of Arabian heavy crude.
Update: Five days has been cut off the deadline date for bids to build the refinery. Bids for five EPC contracts on the facility now have to be submitted by January 26. All contracts will be awarded by May 2010, with a completion date set for March 2014.
