Saudi Arabia Found Two new oil and gas reserves 

Riyadh: Amid the coronavirus, Saudi Arabia’s state oil company Saudi Aramco has discovered two new oil and gas reserves in the northern part of the kingdom. Saudi Energy Minister Prince Abdul Aziz gave this information on Sunday through the official Press Agency (SPA).

The gas reserves in the Al-Jawf area are named Hadbat al-Hajra gas field and the oil reserves in the northern border area are named Abrak al-Talul. Prince Abdul Aziz  said, the press agency SPA , natural gas at the rate of 16 million cubic feet per day has been released from Al Sarara reservoir of Hadbat Al-Hazra field along with 1944 barrel condensates.

About 3,189 billion barrels of super light crude can be extracted from mica al-Tulul every day. Similarly, 1.1 million cubic feet of gas can be released. Aramco will start checking the quality of oil, gas and condensate found in gas and oil fields. Prince Abdul Aziz informed that more wells would be dug to ascertain the exact location and size of oil and gas reserves. The Prince thanked God for bringing prosperity to the country.

Saudi Aramco is the largest oil company in the world and the world’s leading daily oil producer.  The biggest market is Asia where 70 percent of its exports were made.

After Venezuela, Saudi Arabia has the most authentic oil reserves. Saudi accounts for 17.2 percent of the world’s reserves. However, Saudi Arabia’s share in global gas reserves is only 3%.

Saudi Arabia is also working on the country’s first wind power plant. These new fields are located in these wind corridors of Saudi. The Sakaka power plant is being built in Al-Jawf in northern Saudi Arabia for which 302 Arab dollars are required.

Saudi Arabia is planning to build a smart city in the northern part of the country called Niyom which requires 500 billion . It will be bordering Jordan and Egypt. The city will be working on several important energy projects of the future.  Last month, it was announced that a 5 billion green hydrogen plant would be built here. As such, the discovery of oil and gas reserves is reassuring news for the Saudi power grid. .

Turkey also discovered a source of energy in the Black Sea. Turkish President Recep Tayyip Erdogan called it the largest natural gas discovery in Turkey’s history. Speaking at a press conference in Istanbul, Erdogan had said ‘a Turkish drilling ship named Fateh had found 320 billion cubic meters of natural gas in the Tuna-1 well. Our goal is to extract gas from the Black Sea and use it by 2023’.