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Saudi Aramco's Discovery Profitable For World Petroleum Giants

Saudi Arabian state-run oil company Saudi Aramco has discovered of new natural gas reserves

Saudi Aramco's Discovery Profitable For World  Petroleum Giants

Saudi Arabian state-run oil company Saudi Aramco has discovered of new natural gas reserves in the kingdom's Eastern province, Oil Minister Ali al-Naimi said on Wednesday.

Gas had surfaced at the wellhead named Madraka at a rate of 11.6 million cubic meters a day, accompanied by 1,650 barrels of condensates a day. The well is located 300 kilometers southwest of the oil city of Dhahran.

Earlier in the year the company signed contracts with Russian energy company Lukoil, Sinopec of China and a consortium grouping ENI of Italy and Repsol of Spain to explore and produce non-associated gas in the northern part of the Empty Quarter desert.

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