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Bloomberg
Saudi Arabia’s state oil company discovered five new natural gas fields across the kingdom that can produce over 100 million cubic feet per day in total, as the oil-rich kingdom looks to boost production of the fuel.
The fields, discovered by Saudi Aramco, are located in the country’s central region, the empty quarter desert, the northern border region and the Eastern province, Energy Minister Prince Abdulaziz bin Salman said. Expanding gas output has become a priority for Saudi Arabia as it looks to cut the amount of oil burned for power production that could be more profitably exported, while also hitting a goal of reaching net zero emissions by 2060. Saudi Arabia’s gas reserves are one of the largest in the Arab world, according to BP Plc.
Aramco awarded a raft of contracts in November for
the development of the $110 billion Jafurah gas field, one of the world’s biggest natural gas projects.