According to two people with knowledge of the situation on Tuesday, state oil giant Saudi Aramco intends to begin exporting the first condensate generated from the Jafurah gas facility in February.
The $100 billion Jafurah project, which is expected to contain 75 billion barrels of condensate and 229 trillion standard cubic feet of raw gas, is essential to Aramco's goals of increasing its gas production capacity and becoming a key player in the global natural gas market. Production of its first phase began early this month, according to the Saudi finance ministry.
One of the individuals stated that Aramco might ship four to six 500,000-barrel loads of Jafurah condensate per month, although they did not provide a timeframe.
According to the other source, private discussions are being used to sell the condensate. According to a third source, Aramco might give customers samples by the end of the month. Aramco has not responded. "Could Compete With Ultra-Light Crudes and Heavier Condensates."
Condensate is a non-gas liquid that can be combined with crude oil and distilled in refineries, or it can be treated at splitters to create petrochemical feedstock naphtha and other refined products.
According to a preliminary crude assay examined by Reuters, the condensate has an API gravity of 49.7 degrees and includes roughly 0.17% sulfur.
The analysis indicates that about 40% of its produce is petrochemical feedstock naphtha, primarily the heavier grade, with gasoil and kerosene making up the majority of the remaining output.
Armaan Ashraf, global head of NGLs at consultancy FGE, stated, "The uncertainty now is how much would come out to the market in the next 6 to 12 months, and this appears to be a grade that would compete with heavier condensates and ultra-light crudes." Jafurah Gas Output For Domestic Use.
The gas produced by Jafurah will be utilized to generate electricity domestically, freeing up crude for export, which is now consumed in the kingdom.
According to Aramco, at peak output, the unconventional gas program should provide enough electricity to replace 500,000 barrels of oil per day.
