Accessibility Links

Saudi Arabia discover large gas reserves in Red Sea

12/03/2019
Like postLikeLabel * DEFAULT * en-GB

Follow

Saudi Arabia’s state news agency, SPA, have announced the discovery of large quantities of gas in the Red Sea.

The Red Sea discovery will be subject to feasibility studies, but if viable could be of huge benefit to Saudi Arabia's aims for natural gas market growth
(Image via Reuters)

The estimated amount has not been specified, but the Kingdom’s energy minister, Khalid Al-Falih, said that Saudi Aramco plan to conduct feasibility studies of the area.

Subject to the results of the studies, exploration is likely to intensify in the area over the next two years. 

This finding will be a huge benefit to Saudi Arabia, who have been targeting gas acquisitions in recent years as part of an aim to increase its market share and shift away from oil.

Saudi Aramco signed a deal with Shell last year to find new natural gas opportunities, as part of Crown Prince Mohammed bin Salman’s plans to diversify the Kingdom’s economy.

Aramco recently revised its estimated gas reserves from 302.3Tcf to 319.5Tcf. Data from the US Energy Information Administration shows that Saudi Arabia’s production totalled 12.4 billion cubic feet per day in 2017.

CEO Amin Nasser also recently said that the country was aiming to export around 3Bcf/d of gas before 2030 through both pipelines and LNG.

They’re also looking at LNG acquisition opportunities in the US, India, Pakistan, Indonesia, Russia and South Africa.

Work on upcoming Oil & Gas projects throughout the world

Fircroft has been recruiting technical engineers throughout the global oil & gas industry for almost fifty years. Register with us today to stay up to date with the latest opportunities.

Tags: Oil & Gas
Recent Comments
Hello can you recommend me to HSE Engineers thanks
Rustam, 13 March 2019
Add new comment
*
*
*
By commenting on this blog you're agreeing to our terms of use

Comments left should relate to the subject of the above blog. Unfortunately job applications cannot be accepted here.

For job enquiries and applications please use our job search and for technical or account queries please contact us.
Saudi Arabia discover large gas reserves in Red Sea - Time to read 2 min
Share this article
Like postLikeLabel * DEFAULT * en-GB

Follow

Back to Top

By clicking "Save" you consent to
receiving matching jobs based on the
job/page you are viewing by email from
Fircroft, as detailed in our privacy policy
Fircroft would like to keep you up to date with our current vacancies and latest company updates via email. Occasionally Fircrofts marketing may contain 3rd party or affiliate information, however we will not share your personal data with any 3rd parties without your consent. From time to time, we might contact you to get your views on the service you have received. To help you get the best out of Fircroft, we may personalise them based on your location and how you use fircroft.com
Fircroft would like to keep you up to date with the latest company updates and vacancies via SMS / Text messages
Your consent options above means that Fircroft cannot contact you about any new or alternative career vacancies. If you want Fircroft to only contact you about the role(s) you have applied for please continue, however if you would like to be considered for other positions please allow us to contact you by changing one or more of the above consent.