Saudi Arabia finds new gas field in Red Sea
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed October 10, 2012 10:31 am

SAUDI ARABIA. Saudi Arabia's Aramco, the world's largest energy company, has discovered a new gas field in the Red Sea, 26 kilometres North West of the port of Daba, the Saudi Press Agency reported on Tuesday quoting the oil minister.

Gas flowed at the rate of 10 million cubic feet a day at a test well at the depth of 17,700 feet, Ali al-Naimi was quoted as saying.

Naimi said more wells would be drilled in order to evaluate the size of the field.

Saudi Aramco, the world's largest oil exporter, is looking for gas all over the kingdom to boost gas production to help meet rapidly rising Saudi fuel demand.

Saudi Arabia's oil and gas reserves mostly lie in the Eastern Province of the country.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE This article provides an updated summary of the key employment law developments across the GCC; A new Government body known as the Manpower Authority is being created in Kuwait to take over certain functions of the Ministry of Social Affairs and Labour.
INTERNATIONAL. "Whether Putin is in real trouble is not something I can be certain of, but too many things have gone wrong for him lately for me not to consider the possibility. And as in any political crisis, more and more extreme options are contemplated if the situation deteriorates."
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