Aramco exports first condensate cargo from Jafurah field: Report

Saudi Aramco sold oil from its $100 billion Jafurah project in the first publicly announced export from the massive natural gas project, Bloomberg reported, citing sources.

The oil that Aramco sold is condensate, a light oil liquid that’s often found in gas deposits. It will go to buyers in Asia for loading later this month or in early March.

Companies including energy majors and refiners in Asia bought several spot cargoes of the condensate.

The quality is similar to light crudes, which can be processed to have a higher yield of products like plastic feedstocks, including naphtha, or gasoline.

Reuters reported on Monday, citing two sources, that the oil giant plans to begin exporting its first condensate cargo from the Jafurah gas plant in February, according to Argaam data.

Saudi Arabia’s 2026 budget indicated that the first phase of the Jafurah gas plant has been completed and production has begun at a capacity of 450 million cubic feet per day. Sustainable output is expected to reach 2 billion cubic feet of gas per day once the project is fully completed by 2030.