The discovery was made by Saudi Aramco, a leading company in the production of energy and chemical products. This company is already recognized for locating new gas reserves in times of national decline.
Economically, Saudi Arabia depends on its hydrocarbons and was running out of resources more and more quickly. The outlook expected for the nation in 2030 was not positive. For this reason, projects had already been devised to redirect the economy. With the new announcement from the energy giant, Saudi will be able to generate the necessary income to finance its projects more easily. The gas has appeared at the necessary time.
Thanks to this discovery, the reserves of the entire deposit remain at about 6.5 billion cubic meters. With this, Saudi Arabia is on track to become a valuable oil exporter by 2030.
The Saudi Ministry of Energy even thinks that this could mean a transformation for the country, which would become a producer of greener energy and would have a more efficient internal supply network (which would make possible a reduction in the burning of Petroleum).
However, in 2020 the International Maritime Organization limited the maximum permitted sulfur content in ship fuel to 0.5% (previously it was 3.5%). The Arab country announced that Saudi Aramco would stop fuel oil production in the next five years. But the Kingdom has ignored its promises and increased its imports of this fuel oil.If Riyadh continues to prioritize its profits from burning oil, will it then take advantage of its opportunity to be greener?
Currently, 500,000 barrels of crude oil are burned per day for domestic energy consumption.
The objective is to make the country one of the leading exporters by 2030. To achieve this, a plan has been developed: to begin growing as a gas exporter this year. The first step will be to replace the 500,000 barrels a day of crude oil and collect enough remaining gas.
If the established objectives are achieved, the goal would be to reach a production of 2,200 million cubic feet of gas per day.Currently, 500,000 barrels of crude oil are burned per day for domestic energy consumption.
The objective is to make the country one of the leading exporters by 2030. To achieve this, a plan has been developed: to begin growing as a gas exporter this year. The first step will be to replace the 500,000 barrels a day of crude oil and collect enough remaining gas.
If the established objectives are achieved, the goal would be to reach a production of 2,200 million cubic feet of gas per day.
Source:https://www.atalayar.com