Saudi Arabia's official news agency Saudi Press Agency (SPA) has reported that four new oil and gas fields have been discovered in Saudi Arabia.
Saudi Arabia's Energy Minister Prince Abdul Aziz bin Salman announced this on Sunday.
Non-conventional oil has been discovered in the Al-Reish oil field of north-west Dhahran.
This city in the Eastern Province is a major administrative center of the country's oil industry.
How much oil will be produced?
Al-Reish's two number wells will produce 4,452 barrels of crude oil and 3.2 million standard cubic feet of natural gas every day.
At the same time, 465 wells will produce 3,654 barrels per day and 1.6 million standard cubic feet of gas. The initial production of 3 number wells will be 2,745 barrels per day and 3 million standard cubic feet of gas per day.
According to the minister, the discovery of the Al-Reish region is particularly important because it shows that it is possible to extract Arab Extra Light crude oil from the Tuwak Mountains.
Non-traditional oil has also been discovered in Al-Sarah pond located on Al-Minhaz well. It is in the Ghawar oil field of the south-west.
Possibility of getting other natural resources
The Energy Minister said that Saudi Aramco has also discovered oil in Al-Azramiyah. Test results show that 3,850 barrels per day will be produced from here.
This place is located on the Saudi-Iraqi border northwest of Rafha city.
The SPA quoted Prince Abdulaziz as saying that Saudi Aramco is working on the size and volume of newly discovered areas to estimate how much oil and gas there is.
He also informed that Saudi Arabia has also found a large amount of other natural resources in this discovery.
How much oil does Saudi Arabia have and how long will it last?
For oil experts for the last five decades, this question is nothing less than a mystery. According to the estimated reserves given by the Saudi government to the Organization of Oil Exporting Countries OPEC (Organization of the Petroleum Exporting Countries), the certified oil reserves are 266 billion barrels. OPEC gave this information in its annual bulletin in 2015.
If this number is correct, then Saudi oil reserves will end up in the next 70 years according to the average production of 12 million barrels per day. But there are enough doubts about the official figures. The reason for this is that in 1987, Saudi had declared its oil reserves 170 billion barrels, which was increased to 260 billion barrels in 1989.
According to the Statistical Review of World Energy 2016, Saudi Arabia has sold or spent 94 billion barrels of oil, yet officially its reserves are 260 to 265 billion barrels.
If the government's data is correct, it means that the Saudis have discovered new locations of oil or have increased the estimated reserves.
One of the grounds for increasing the estimated reserves may be that the locations from which oil is produced, there is more oil or that all the oil extracted so far has been supplied again.
But between 1936 and 1970, huge and uncountable locations of oil reserves have been discovered in Saudi. After this, new oil bases have not been discovered in Saudi compared to this.
The problem is that wherever the oil production is taking place, the government keeps a lot of confidentiality and estimated reserves. Its information is from a few people within.
In such a situation, it seems impossible to confirm any facts. There is also a question mark on the credibility of oil analysts that they are not in a position to tell when oil production will start falling in Saudi.
Saudi is currently producing the most oil. This has shocked the prediction that Saudi oil production will come down after reaching the summit.
Estimated reserves
There may be different ways to know the potential of oil production in the future. It can also be estimated that how many people are working in the oil industry.
One way to understand the oil reserves is also how big the oil treasure was before the start of production. Before the start of production, oil treasury refers to the original oil in place (OOIP).
JEE Advanced AAT Result: JEE Advanced AAT result to be released tomorrow, JoSAA mock seat allotment on 18
JEE Advanced AAT Result 2022: The result of the Joint Entrance Examination (JEE) Advanced Architecture Aptitude Test (AAT) will be declared on Saturday, September 17, 2022. Once released, JEE Advanced
India lambasted China: Said- Sri Lanka needs help, do not run the agenda; Chinese ambassador's comment violates diplomatic etiquette
Despite India's opposition, the Chinese ship camped for a week at Sri Lanka's Hambantota Port. For which India had protested. Later on in this matter, the Chinese Ambassador to Sri Lanka Ki Zhenhong
Monsoon Update: It will rain heavily for four days in these states including UP, Delhi, and Bihar, read the condition of your state
New Delhi, Online Desk. Weather Update Today Monsoon rains have knocked in all the states of the country. In many areas of Bihar, Gujarat, and Assam, rains have created flood-like situations.
PCB files a complaint against Suryakumar Yadav's behaviour; will he be banned for the Asia Cup Final?
Indian captain Suryakumar Yadav's statements following the victory over Pakistan in the 2025 Asia Cup have embroiled controversy. The Pakistan Cricket Board (PCB) has filed a complaint with the ICC
RG Kar Case: 'Bengal government is stopping us from holding the conference', doctors allege - permission given for 27 September withdrawn
The West Bengal Junior Doctors Front on Wednesday alleged that the state government has withdrawn the permission granted earlier to hold a conference on September 27. Also, the government has created
Avatar The Way Of Water OTT Release Date: 'Avatar 2' is coming in Hindi, and will be released on this OTT platform
Avatar The Way Of Water OTT Release Date: If you are fond of James Cameron's films and are waiting for the release of 'Avatar The Way of Water', then understand that it is over because it is included
Big decision: Ban imposed on import of 351 defense equipment, important step towards self-reliant India
Taking a big decision on Wednesday, the Defense Ministry banned the import of 351 pieces of defense equipment. These devices include many subsystems and components of defense production. Import of
TTP commander involved in attack on Wagah border killed: $ 30 million reward was on Khurasani, killed in car blast in Afghanistan
Pakistan Tehreek-e-Taliban (TTP) founder commander Umar Khalid Khurasani alias Abdul Wali Mohammad was killed in a blast on Sunday. He was present in the Paktika province of Afghanistan. Khurasani was
Weather Update: Effect of Biparjoy in Delhi as well, today the temperature will fall again due to cloudy weather, good news for UP-MP
Weather Update Today The weather has become pleasant in all the states of North India due to the rains in the past day. The effect of Cyclone Biperjoy has also been seen in Delhi. It is still cloudy
40 million people are struggling with anxiety: accept it instead of getting upset, it is beneficial to hold your breath for 6 seconds
In today's fast-paced life, people often face stress and anxiety. Some are worried about their work and some are worried about their family. In America alone, 40 million people are suffering from an
