State-owned Saudi Arabian Oil Co., or Aramco, will soon announce unconventional gas discoveries in the north and northwest of the kingdom, al-Riyadh newspaper reports Wednesday, citing the firm's chief executive.
State-owned Saudi Arabian Oil Co., or Aramco, will soon announce
unconventional gas discoveries in the north and northwest of the kingdom,
al-Riyadh newspaper reports Wednesday, citing the firm's chief executive.
The company has also started drilling in the
Red
Sea
in shallower areas and will begin drilling in deep water by the end of
the year, Khalid al-Falih said, according to the newspaper.
The results of the drilling operations will be announced in 2013, he said.
Earlier this year, Aramco said its gas production averaged 9.9 billion cubic
feet per day in 2011 from 9.4 billion cubic feet per day in 2010, while gas
reserves rose to 282.6 trillion standard cubic feet from 279 trillion standard
cubic feet.
Saudi Aramco is fully owned by the
Kingdom
of
Saudi
Arabia
. It is one of the largest oil and gas companies in
the world with activities in exploration, production, refining, distribution,
shipping and marketing.
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