Aramco Completes Red Sea Drilling, Touts Discoveries

Saudi Aramco discovered eight new oil and gas fields and produced a record volume of gas in 2014, CEO Khalid al-Falih says.

Mr Falih, speaking to Reuters earlier this month, gave no further details nor did he say when the discoveries were made and where. The news comes as Saudi Aramco announced the completion of a deep water exploration program in the Red Sea, the focus of its largest exploration program to date.

Saudi Arabian drilling has been running at record levels. Services firm Baker Hughes, which has data going back to January 1982, reported a record 124 active Saudi drilling rigs in February (see table, p8) (CONTINUED - 1221 WORDS)