Saudi Aramco discovers two new oil and gas fields in northern Saudi Arabia

Aramco breached the $2 trillion valuation target several times on Thursday.

Saudi Aramco has discovered two new oil and gas fields in the north of the Kingdom; announced the Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz via the official Saudi Press Agency (SPA) on Sunday.

The fields have been named the “Hadat Al-Hajrah” gas field in the Al-Jawf region; and the “Abraq Al-Talul” oil field in the northern border region.

Prince Abdulaziz told SPA that the gas flowed from the al-Sarara reservoir in the Haddah al-Hajrah field; east of Sakaka in northwestern Saudi Arabia, at a rate of 16 million standard cubic feet per day; accompanied by about 1,944 barrels of condensates.

Aramco will continue to work on assessing the quantities of oil, gas and condensate in the two fields; in addition to digging more wells to determine their area and size; added Prince Abdulaziz.

Saudi Aramco is the world’s most valuable company and pumps more oil on a daily basis than any other producer in the world. Its biggest markets are in Asia; where it sent over 70 percent of its exports before the global slowdown caused by the coronavirus pandemic.