Saudi Aramco’s recent award of a major services contract to develop the giant Jafurah wet gas field advances the state producer’s push to grow its gas and non-crude liquids output in support of Saudi Arabia’s strategic goals. The world’s largest oil producer is now emphasizing more gas and NGL production as it seeks to free up crude for exports and bolster its petrochemicals sector while also preparing to meet an anticipated surge in power demand from new artificial intelligence data centers. Aramco recently raised its gas growth target and now aims for an 80% increase from 2021 levels by 2030 — well above its previous goal of 60% — citing “strong momentum in both demand and supply” in the kingdom’s gas market. This revision raises Aramco’s 2030 production target from around 14.7 billion cubic feet per day previously to as much as 16.8 Bcf/d. “Any developed country, if you look around the world, is either using gas or nuclear as the foundation of its energy mix going forward,” noted one industry source.
