Numerous oil and gas discoveries in Saudi Arabia

The Saudi Arabian Minister for Petroleum and Mineral Resources, Ali bin Ibrhim Al-Naimi has announced that Saudi Aramco has made five discoveries in five oil fields and three gas fields.

Mr. Al-Naimi said that of the five oil discoveries, four were on land while one was located in the Persian Gulf. They are: Haouf-11, Ramthan-9, Nayashin-1, Jareed-101 and Khorsaniya-114. The gas fields have been named Arabiya-1, Rabib-1 and Hisbah-16. Meanwhile, a Western Australian gas project has been put on hold. Apache Australia-Santos announced that it would postpone its Reindeer gas project development due to the poor global economy. The project was to have started producing gas in 2010. Apache-Santos said it would either suspend or terminate engineering and construction contracts.

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