May 21, 2024
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Saudi Aramco Discovers Two Natural Gas Fields

Saudi Aramco has discovered two new natural gas fields in the Empty Quarter region, according to Saudi Energy Minister Prince Abdulaziz bin Salman.

In a report from Reuters, the two new gas fields, Al-Hiran and Al-Mahakik, each with a gas flow rate of 30 million standard cubic feet per day and 0.85 million standard cubic respectively, mark significant additions to Saudi Arabia’s gas reserves.

“Natural gas was also discovered in five reservoirs in previously discovered fields,” a Saudi state news agency said, citing the minister according to Reuters reports.

Saudi Aramco, aiming to enhance its gas production by 50% by 2030, has been actively pursuing investments in the natural gas sector.

In September, the company agreed to acquire a strategic minority stake in liquefied natural gas (LNG) company MidOcean Energy for $500 million, signaling its commitment to becoming a major player in the seaborne gas market.

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