Saudi Aramco makes seven oil and gas discoveries: Report

Saudi energy behemoth Aramco reportedly has made seven oil and gas discoveries in the kingdom’s Eastern Province and Empty Quarter.Saudi Aramco has discovered two unconventional oilfields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs, the Arab News reported, citing SPA.

Energy Minister Prince Abdulaziz bin Salman reportedly informed that two unconventional oilfields and one reservoir were discovered in the Eastern Province, while two gas fields and two gas reservoirs were encountered in the Empty Quarter.The Ladam unconventional oilfield in the Eastern Province tested at a rate of 5100 barrels per day of very light Arabian crude plus approximately 4.9 million cubic feet per day of gas from the Ladam-2 well.

Meanwhile, the Al-Farouk unconventional oilfield in the same province was confirmed after the Al-Farouk-4 well flowed at 4557 bpd of Arab ultra-light oil accompanied by about 3.79 MMcfd of gas.Another success came from the Unayzah B/C reservoir at the Mazalij field in the Eastern Province. The Mazalij-62 well flowed 1780 bpd of Arab light oil and some 700,000 cubic feet per day of natural gas, according to the local news agency.

The Al-Jahaq field in the kingdom’s Empty Quarter was discovered after gas was tested from the Al-Arab-C reservoir in the Al-Jahaq-1 wildcat at a rate of 5.3 MMcfd, and from the Al-Arab-D reservoir at a rate of 1.1 MMcfd.The Al-Katuf-1 well in the Empty Quarter also delivered, with this field discovery flowing at 7.6 MMcfd of gas plus around 40 bpd of condensate.Aramco too had success with two reservoirs encountered during drilling of the Asikra-6 well on its Asikra field in the Empty Quarter.
The Hanifa reservoir yielded 4.9 MMcfd of natural gas while the Al-Fadhili tested at a rate of 600,000 cubic feet per day of gas and around 100 bpd of condensate.The Saudi Arabian state behemoth expects 2024 capital investments to be between $48 billion to $58 billion, and increasing until around the middle of the decade.While Aramco has halted the further expansion of its oil production capacity beyond 12 million bpd, the company is unlikely to slow down its exploration efforts, Upstream understands.