The Clap
Saudi energy giant Aramco has successfully discovered two natural gas fields in the Eastern Province and the Empty Quarter.
What
Saudi Energy Minister Prince Abdulaziz bin Salman announced that Aramco discovered the “Al-Hiran” natural gas field. This follows the flow of gas from the Hanifa reservoir in the Hiran-1 well at a rate of 30 million standard cubic feet per day and 1600 barrels of condensate.
The minister also revealed the discovery of the “Al Mahakek” field, following the gas flow from the Al Mahakek-2 well at a rate of 0.85 million standard cubic feet per day. Additionally, gas was discovered from the Arab-C reservoir in the same field at a rate of 3.1 million standard cubic feet per day.
Natural gas was also discovered in five reservoirs in previously discovered fields in Saudi Arabia.
So What
Aramco leads the Kingdom’s efforts to become a major player in global gas production. The company aims to explore more fields within its territory and increase its external investments.
Now What
The company aims to increase its gas production by at least 50% by 2030 compared to 2021 levels. It also seeks to capture more acquisitions in the liquefied natural gas (LNG) sector, aiming to become a leader in the maritime LNG market.
