Saudi Aramco Discovers New Natural Gas Fields

Saudi Aramco Discovers New Natural Gas Fields

Saudi Aramco, the world’s largest oil producer, has discovered the presence of two new natural gas fields, Al-Hiran and Al-Mahakik, in the Empty Quarter region, ¬†Saudi energy minister Prince Abdulaziz bin Salman said on Sunday.

The Al-Hiran gas field has been confirmed after gas flowed at a rate of 30 million standard cubic feet per day (mscf/d), accompanied by 1,600 barrels of condensate daily. Similarly, the Al-Mahakik gas field has been confirmed after gas flowed at a rate of 0.85 million standard cubic feet (mscf).

“Natural gas was also discovered in five reservoirs in previously discovered fields,” bin Salman added. Other discoveries were also announced in fields in the Eastern Province.

Saudi Aramco has set ambitious goals to increase its gas production by 50% by 2030, compared to 2021 levels.

In September, Saudi Aramco announced its agreement to acquire a strategic minority stake in MidOcean Energy, a liquefied natural gas (LNG) company, for $500 million, with an option to increase the stake as part of its push into natural gas.

This investment not only strengthens Saudi Aramco’s presence in the LNG market but also aligns with its long-term strategy to become a leading player in the seaborne gas market.

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