Economy

Saudi Arabia... Massive Oil and Gas Discoveries

Saudi Arabia... Massive Oil and Gas Discoveries

Saudi Energy Minister, Prince Abdulaziz bin Salman, stated that the Saudi Arabian Oil Company (Saudi Aramco) has managed to discover two unconventional oil fields, a light Arabian oil reservoir, two natural gas fields, and two natural gas reservoirs. He added that the "Ludam" unconventional oil field was discovered in the Eastern Province after very light Arabian oil flowed from the well (Ludam-2) at a rate of 5,100 barrels per day, accompanied by approximately 4.9 million standard cubic feet of gas per day.

Additionally, the "Al-Furaq" unconventional oil field was discovered in the Eastern Province after very light Arabian oil flowed from the well (Al-Furaq-4) at a rate of 4,557 barrels per day, accompanied by approximately 3.79 million standard cubic feet of gas per day. A reservoir "Unayzah B/C" was also discovered in the "Muzaleej" field in the Eastern Province, after light Arabian oil flowed from the well (Muzaleej-62) at a rate of 1,780 barrels per day, accompanied by approximately 0.7 million standard cubic feet of gas per day.

Regarding natural gas discoveries, the "Al-Jahq" field was discovered in the Empty Quarter after natural gas flowed from the "Arab-B" reservoir in well (Al-Jahq-1) at a rate of 5.3 million standard cubic feet per day, and from the "Arab-D" reservoir in the same well at a rate of 1.1 million standard cubic feet per day. In addition, the "Al-Katoof" field was discovered in the Empty Quarter after natural gas flowed from well (Al-Katoof-1) at a rate of 7.6 million standard cubic feet per day, accompanied by approximately 40 barrels per day of condensates. The "Hanifa" reservoir was also discovered in the "Asikrah" field in the Empty Quarter after natural gas flowed from well (Asikrah-6) at a rate of 4.9 million standard cubic feet per day, and from the same well from the "Fadlly" reservoir at a rate of 0.6 million standard cubic feet per day, accompanied by approximately 100 barrels per day of condensates.

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