JEDDAH, 28 June 2005 — A new gas field, capable of pumping 40 million cubic feet of gas per day, has been discovered in an area about 95 km west of the eastern oil city of Dhahran.
Petroleum and Mineral Resources Minister Ali Al-Naimi said the condensates at the Fazran 23 well had a density of 45 degrees API. It was discovered by the state-owned oil and gas giant Saudi Aramco on June 24.
The Kingdom faces an increasing demand for natural gas from its rapidly growing population, expanding industrial sector and ambitious new petrochemical projects.
On Sunday, Saudi Aramco announced it was in the process of floating four giant projects at Khorsaniya, Shayba, Kharees and Hawiya fields as parts of efforts to increase oil production. The new projects will be online between 2006 and 2008. Aramco officials made a presentation of the projects at a meeting in Dammam attended by almost 400 contractors.
