Saudi Arabia announces new natural gas discoveries
The kingdom is already a major oil exporter, but it could also start exporting natural gas in the near future.
Saudi Arabia’s state oil company announced two new natural gas discoveries Wednesday.
Aramco discovered the gas in two locations: the Awtad gas fields located 142 kilometers southwest of Hofuf, and the AlDahna field, which is 230 kilometers southwest of Dhahran. Both areas are in eastern Saudi Arabia.
There were two discoveries in the Awtad gas fields totaling 26.9 million standard cubic feet daily plus 905 barrels of natural gas condensate, which is a similar material. The discovery in AlDahna totaled 25.6 million standard cubic feet daily plus 362 barrels of condensate, the official Saudi Press Agency reported.
Why it matters: Saudi Arabia is known for its large oil reserves and exports. The Gulf kingdom also has some of the largest natural gas reserves in the world. Saudi Arabia does not export its gas, however. Some is used domestically, but in recent years, the Saudi government has been exploring ways to start exporting its gas globally, according to a February report from the DC-based Middle East Institute.
