Aramco unveils big gas exploration plan
Riyadh, January 7, 2013
Saudi Aramco has announced plans to boost its gas drilling and development operations as part of its strategy to use more gas, instead of oil, for electricity generation amid surging demand, said a report.
Aramco aims to develop more gas wells across the Kingdom and would start working on seven fields in the first phase, said a report in the Arab News.
For the first time the company has even started using an advanced drilling ship designed to carry out operations in the deep waters in Red Sea, the report stated citing the oil minister.
"The outcome of geological survey and drilling works in the region showed that it contained huge gas and oil wealth. The region has substantial reserves of oil and gas in commercial quantities," remarked Petroleum and Mineral Resources Minister Ali Al-Naimi.
Saudi Aramco, he said, was carrying out drilling operations in two new wells in Tabuk. One of the two new wells, Hareed, is located northwest of Dhuba while the second named Dhuba is located near the city.
“Although there is a lot of oil and gas wealth and shale gas in different parts of the Kingdom, I would like to tell you that the discovery and development of these oil and gas wells will take a long time,” he added.
More Energy, Oil & Gas Stories
- Iran decades away from becoming gas export giant
- Pakistan, Iran to speed up gas pipeline project
- Opec cuts output closer to 2014 demand
- Oil industry struggling to attract women, says survey
- Rolls Royce wins Abu Dhabi offshore deal
- Alternative energy strategies probed
- GCC firms consider Occidental Mena stake bid
- Experts discuss Mena energy markets outlook
- Saudi Nov output steady, pumps 9.745m bpd
- Libya lost $7bn to oil strikes, says minister