Saudi Arabia finds new gas field

Published December 10th, 2000 - 02:00 GMT

Saudi Aramco has found a new gas field with commercial quantities of gas and condensates in the east of the oil-rich Gulf Arab state, Oil Minister Ali al-Nuaimi said Saturday. 

 

Nuaimi, quoted by the official news agency SPA, said the find was made 130 kilometres (80 miles) east of Riyadh, but he did not give the field's volume of reserves nor its production capacity. 

 

Saudi Arabia's known gas reserves are the fourth largest in the region, after Iran, Qatar and the United Arab Emirates. In January 1999, Nuaimi estimated the reserves at 5.776 trillion cubic meters (202 trillion cubic feet). 

 

Riyadh has opened the door to foreign firms to take part in the exploitation of the kingdom's oil and gas resources, including the upstream gas sector.—AFP. 

©--Agence France Presse. 

 

© 2000 Mena Report (www.menareport.com)

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