Saudi Arabia announced on Friday the development of the Al-Jafoura gas field with an investment of 110 billion U.S. dollars, the Saudi Press Agency reported.
The development plan was reviewed in a meeting chaired by Saudi Crown Prince Mohammed bin Salman Al Saud on Thursday.
As the largest non-conventional and non-associate gas field in the Saudi Arabia, the giant Al-Jafoura field, located in the kingdom's eastern region, is expected to measure 170 km in length and 100 km in width and contain an estimated 200 trillion cubic feet of wet gas.
The development of the field would take 22 years and earn a net income of about 8.6 billion dollars annually, adding an estimated 20 billion dollars to annual GDP, according to the crown prince.
It will make Saudi Arabia one of the most important gas producers in the world, he said.
Editor:Cherie
