Saudi Arabia to Announce Gas Discoveries

Saudi Arabian Oil Co. (Saudi Aramco) will soon announce natural-gas discoveries in the north and northwest of Saudi Arabia, Al Riyadh Arabic daily reported citing company’s chief executive officer.

The newspaper also reported that the company will also start drilling in the Red Sea by the end of the year and will announce the results in 2013.

Saudi Aramco is also in the process of developing a natural gas field called Midyan in the northwestern part of the kingdom. The field will likley to produce 75 million cubic feet a day of gas and 4,500 barrels a day of condensate for a 20-year period.

Gas from Midyan will be transported by pipeline to a power plant in the coastal town of Duba, 135 kilometers (84 miles) southwest of the field, the Middle East business news service said.