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January 5, 2021updated 04 Jan 2021 10:48am

Riyadh announces oil and gas discoveries

By MEED   

Saudi Aramco’s Al-Reesh discovery and the production of Arab Extra Light crude is considered significant for the kindgom

Saudi Aramco has made four oil and gas discoveries in Saudi Arabia.

Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz announced the discoveries in a statement carried by the Saudi Press Agency (SPA) on 27 December.

Unonventional oil has been discovered in the Al-Reesh oil field, north-west of Dhahran. The Al-Reesh Well No. 2 produces 4,452 barrels a day (b/d) of Arab Extra Light crude oil, along with 3.2 million cubic feet a day (cf/d) of natural gas.

Aramco has also drilled Al-Reesh Well No. 3 and Well No. 4.

Well No. 3’s initial production has reached 2,745 b/d, along with 3 million cf/d. Well No. 4’s daily output is 3,654 b/d of oil with 1.6 million cf/d of natural gas.

Al-Reesh discovery is considered important because it shows that it is possible to produce Arab Extra Light crude oil at the Tuwaiq mountain formation.

Unconventional gas has also been discovered in al-Sarrah reservoir at Al-Minahhaz, south-west of the Ghawar oil field, and at Al-Sahbaa well, south of Ghawar. Gas from al-Minahhaz well amounts to 18 million cf/d, along with a daily 98 b/d of condensate. For Al-Sahbaa the well produces 32 million cf/d of gas.

Oil has also been discovered in al-Ajramiyah well No 1, which lies to the northwest of the city of Rafhaa in the Northern Borders Province. The well test shows a rate of 3,850 b/d of oil.

Prince Abdulaziz said in late August that Aramco had discovered two new oil and gas fields. The fields – Hadabat al-Hajarah and Abraq al-Talul – are located in the northern Al-Jouf region, which borders Jordan.

Saudi Arabia has the world’s second-largest reserves of crude oil, after Venezuela, at 268.5 billion barrels. Gas reserves stand at 185.7 trillion cubic feet.

This article is published by MEED, the world’s leading source of business intelligence about the Middle East. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here.

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