Saudi Arabia has announced the discovery of new oil reserves which further bolster the kingdom’s efforts to develop its unconventional oil and gas resources. The most promising new discovery is an unconventional play in the Tuwaiq Mountain formation; the same formation that is key to Saudi Aramco’s $110bn plans to develop the Jafurah Basin (MEES, 28 February 2020).
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced the four new oil and gas discoveries on 27 December. The announcement came just a few months after the minister hailed the discovery of two new fields in August 2020 (MEES, 11 September 2020). (CONTINUED - 810 WORDS)