Saudi Arabia’s energy minister announced Aramco‘s discovery of seven new oil and gas deposits in the Kingdom’s Eastern Province and Empty Quarter.
Prince Abdulaziz bin Salman said that Saudi Aramco found two unconventional oil fields, a light Arabian oil reservoir, two natural gas fields, and two natural gas reservoirs.
In the Eastern Province, the “Ladam” unconventional oil field was discovered, producing very light Arabian oil at 5,100 barrels per day, along with 4.9 million standard cubic feet of gas daily. The “Al-Farouk” oil field produces 4,557 barrels per day of ultra-light oil and 3.79 million cubic feet of gas per day.
The “Unayzah B/C” reservoir in the Mazalij field produces 1,780 barrels of light oil and 0.7 million cubic feet of gas daily.
In the Empty Quarter, the “Al-Jahaq” field produces 5.3 million cubic feet of gas from the “Al-Arab-C” reservoir and 1.1 million cubic feet from the “Al-Arab-D” reservoir.
The “Al-Katuf” field flows at 7.6 million cubic feet of gas and 40 barrels of condensate per day.
The “Hanifa” reservoir in the Asikra field yields 4.9 million cubic feet of gas per day, with the “Al-Fadhili” reservoir adding 0.6 million cubic feet of gas and 100 barrels of condensate daily.
Does that mean the price of gas will go up? Or go down? What about Saudi Arabia’s so-called sustainability vision for the year 2030? Looks like business as usual.
