Aramco Discovers 2 New Unconventional Gas Fields
Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz, announced that Saudi Aramco has discovered two new unconventional natural gas fields in the eastern region, the Saudi Press Agency (SPA) reported this week.
Gas flowed from the Awtad-108001 well at a rate of 10 million standard cubic feet per day and from the Awtad-100921 well at a rate of 16.9 million standard cubic feet per day, SPA highlighted. Gas also flowed from the AlDahna-4 well at a rate of 8.1 million standard cubic feet per day and from the AlDahna-370100 well at a rate of 17.5 million standard cubic feet per day, SPA pointed out.
The energy minister said the importance of these discoveries lies in increasing the Kingdom’s natural gas reserves, SPA reported. He added that the discoveries underline the wealth of natural resources the Kingdom has at its disposal, SPA revealed.
Back in February, SPA reported that Abdulaziz announced the discovery of a number of natural gas fields. SPA outlined in the report that these included the Shedun field, the Shehab field, the Al-Shorfa field, the Umm Khansar and the Samna field.
According to Saudi Aramco’s website, the company is the sole supplier of natural gas to Saudi Arabia, which it highlights is the seventh largest natural gas market in the world. Aramco manages the Kingdom’s proved reserves of 337.33 billion barrels of oil equivalent, the company’s website states.
The company reported a net income of $42.2 billion in the third quarter, compared to $30.4 billion during the same period last year, and free cash flow of $45 billion, compared to $28.7 billion during the third quarter of 2021.
“Aramco’s strong earnings and record free cash flow in the third quarter reinforce our proven ability to generate significant value through our low cost, low-carbon intensity upstream production and strategically integrated upstream and downstream business,” Aramco President and CEO Amin H. Nasser, said in Aramco’s 3Q results, which were published last month.
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