Media Wire

Saudi Arabia announces discovery of major oil, gas deposits

Saudi Arabia's energy minister has announced the discovery of seven oil and gas deposits in the kingdom's Eastern Province and Empty Quarter, the official Saudi news agency SPA reported.

Saudi Energy Minister Prince Abdulaziz bin Salman said state oil group Saudi Aramco had discovered “two unconventional oil fields, a reservoir of light Arabian oil, two natural gas fields, and two natural gas reservoirs”.

Two unconventional oil fields and one reservoir were discovered in Saudi’s Eastern Province while two natural gas fields and two reservoirs in the Kingdom’s Empty Quarter.

The discovery was made by Aramco, Saudi Arabia’s state-owned oil company.

Saudi Arabia is the world’s largest crude oil exporter and leader of the Organization of Petroleum Exporting Countries (OPEC).

Aramco’s oil production hit 500,000 barrels per day (bpd) in 1949, and the company currently produces around 9 million bpd, making it one of the world’s largest oil producers.

IFP Media Wire

Reports and views published in the Media Wire section have been retrieved from other news agencies and websites, and do not necessarily reflect the opinion of the Iran Front Page (IFP) news website. The IFP may change the headlines of the reports in a bid to make them compatible with its own style of covering Iran News, and does not make any changes to the content. The source and URL of all reports and news stories are mentioned at the bottom of each article.

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