Saudi Arabia discovers new 7 oil and gas fields

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RIYADH, Saudi Arabia, July 2: Saudi Arabia has revealed significant advancements in its oil and gas sector with the announcement of seven new discoveries across the Eastern Province and the Empty Quarter. Energy Minister Abdul Aziz Bin Salman disclosed the findings, which encompass two unconventional oil fields, a reservoir containing light Arabian oil, two natural gas fields, and two natural gas reservoirs.

The discoveries include two unconventional oil fields and one reservoir located in the Eastern Province, while the findings of two natural gas fields and two reservoirs were made in the Empty Quarter region.

This announcement comes alongside Saudi Aramco’s recent contracts worth over $25 billion (Dh91.8 billion) under its strategic gas expansion program. The state-run energy giant aims to ramp up production by more than 60% by 2030 compared to 2021 levels.

Earlier this year, the Ministry of Energy directed Aramco to maintain its maximum sustainable crude capacity at 12 million barrels per day (bpd), refraining from increasing it to 13 million bpd. These developments underscore Saudi Arabia’s ongoing efforts to bolster its energy sector and enhance global oil and gas capabilities.

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