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Saudi Arabia makes four new oil, gas discoveries: Energy minister

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Saudi Aramco has discovered four new oil and gas fields in Saudi Arabia, the Minister of Energy Prince Abdulaziz bin Salman announced on Sunday, according to Saudi Press Agency (SPA).

Non-conventional oil was discovered in the al-Reesh oil field, north-west of the Dhahran.

The city, a major administrative center for the Kingdom’s oil industry, is located in the Eastern Province.

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The Al-Reesh well no. 2’s daily flow stands at 4,452 bpd of Arab Extra Light crude oil and 3.2 million standard cubic feet of natural gas, while well no. 4 is producing 3,654 bpd and 1.6 million standard cubic feet of gas.

Al-Reesh well no. 3’s initial production stands at 2,745 bpd with 3 million standard cubic feet of gas per day.

The discovery at the al-Reesh field is especially important, according to the minister, because it shows that it is possible to produce Arab extra light crude oil at the Tuwaiq Mountain Formation.

Non-conventional oil was also found in the al-Sarrah reservoir at the al-Minahhaz well, which is located south-west of the Ghawar oil field, and at the al-Sahbaa well in Dhahran.

Saudi Aramco discovered oil in the al-Ajramiyah well, the minister added, with tests showing a rate of 3,850 barrels per day (bpd). The well is located north-west of the city of Rafhaa in the Northern Borders Province on the Saudi-Iraqi border.

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Saudi Aramco is working to determine the size and volume of the newly-discovered fields and estimate the amount of oil, gas, and condensation in these fields, SPA cited Prince Abdulaziz as saying.

The discoveries also underline the large amount of natural resources that Saudi Arabia has at its disposal, he added.

(With Reuters)