Saudi Arabia finds seven oil and gas fields

Saudi Arabia

Saudi Arabia unveils seven new oil and gas discoveries in the Eastern Province and Empty Quarter.

Energy Minister Abdul Aziz Bin Salman announced the findings, which include two unconventional oil fields, a reservoir containing light Arabian oil, two natural gas fields, and two natural gas reservoirs.

The unconventional oil fields and one reservoir were in the Eastern Province, while the discoveries of two natural gas fields and two reservoirs occurred in the Empty Quarter.

This week, Saudi Aramco, the state-run energy giant, awarded contracts valued at over $25 billion (Dh91.8 billion) as part of its strategic gas expansion programme.

The company aims to boost production by more than 60 per cent by 2030 compared to 2021 levels.

In January, the ministry of energy instructed Aramco to maintain its maximum sustainable crude capacity at 12 million barrels per day (bpd) and refrain from increasing it to 13 million bpd.