Saudi Arabia announces discovery of seven oil, gas deposits

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Saudi Arabia’s energy minister announced a new discovery of seven oil and gas deposits in the kingdom’s Eastern Province and Empty Quarter, the official Saudi news agency SPA reported.

Saudi Energy Minister Prince Abdulaziz bin Salman said state oil group Saudi Aramco had discovered “two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs”, as per the SPA report.

Two unconventional oil fields and one reservoir were discovered in Saudi’s Eastern Province while two natural gas fields and two reservoirs in the kingdom’s Empty Quarter.

Eastern Province discovery

In the Eastern Province, Saudi Aramco discovered two significant unconventional oil fields and one reservoir:

1. Ladam Field:
   • Well: Ladam-2
   • Output: The well yielded very light Arabian oil at a flow rate of 5,100 barrels per day. Additionally, it produced approximately 4.9 million standard cubic feet of gas per day.
2. Al-Farouk Field:
   • Well: Al-Farouk-4
   • Output: This well delivered Arab ultra-light oil at a rate of 4,557 barrels per day and produced around 3.79 million standard cubic feet of gas per day.
3. Unayzah B/C Reservoir:
   • Location: Mazalij Field
   • Well: Mazalij-62
   • Output: The well produced Arab Light oil at a rate of 1,780 barrels per day, accompanied by about 0.7 million standard cubic feet of gas per day.

Empty Quarter

In the Empty Quarter, four major discoveries were made, indicating a substantial increase in the region’s gas reserves:

1. Al-Jahaq Field:
   • Well: Al-Jahaq-1
   • Output: This well tapped into the Al-Arab-C reservoir, producing 5.3 million standard cubic feet of gas per day, and the Al-Arab-D reservoir, yielding an additional 1.1 million standard cubic feet of gas per day.
2. Al-Katuf Field:
   • Well: Al-Katuf-1
   • Output: The well delivered 7.6 million standard cubic feet of gas per day, accompanied by about 40 barrels per day of condensate.
3. Hanifa Reservoir:
   • Location: Asikra Field
   • Well: Asikra-6
   • Output: This well produced 4.9 million standard cubic feet of gas per day.
4. Al-Fadhili Reservoir:
   • Location: Asikra Field
   • Well: Asikra-6
   • Output: The reservoir provided an additional 0.6 million standard cubic feet of gas per day, along with about 100 barrels per day of condensate.

Strategic importance of oil reserves

These discoveries underscore Saudi Arabia’s continuing role as a leading energy producer. The kingdom is the world’s largest crude oil exporter and a leading voice in the Organization of Petroleum Exporting Countries (OPEC) grouping.

The state oil company produces around 9 million bpd, making it one of the world’s largest oil producers.

Prince Abdulaziz bin Salman highlighted that these discoveries will contribute significantly to the kingdom’s economic stability and its long-term strategic goals in the energy sector.

With these findings, Saudi Aramco is set to enhance its production capabilities and continue to support the kingdom’s economic diversification initiatives. The exploration of new energy reserves aligns with Saudi Arabia’s Vision 2030 plan, which seeks to reduce dependency on oil and diversify the economy.

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