Saudi Arabia Discovers 14 New Oil and Gas Fields with Small Volumes

SEATTLE (Oil Monster): Saudi oil firm Aramco has discovered 14 oil and natural gas fields and reservoirs in the kingdom's Eastern Region and the Empty Quarter, state news agency SPA said on Wednesday, containing small volumes.

The six fields and two reservoirs were found to have Arabian oil of different grades totalling 8,126 barrels per day, according to Reuters calculations based on the announcement.

The natural gas discoveries from two fields and four reservoirs totalled 80.5 million standard cubic feet per day (scfd), the calculations show. Associated gas from the oil fields and reservoirs added up to 2.11 million scfd.

The kingdom, the world's top oil exporter, produced nearly 9 million barrels per day of crude in February, according to secondary sources in producer group OPEC's March report.

Courtesy: www.reuters.com