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Arabia
SAUDIS DISCOVER GAS RESERVES
2004-11-27
Saudi Arabia has reported the discovery of gas reserves in the Republic of Eastern Arabia, a thin strip of land bordering the western edge of the Persian Gulf eastern part of the kingdom. Saudi Oil Minister Ali Al Naimi said Saudi Aramco discovered gas reserves in the Eastern Province. Al Naimi said the gas surfaced at the Madraka-1 well at a rate of 38 million cubic feet per day. Aramco also reported a find of 1,650 barrels of condensates a day. "Studies show that the permanent production capacity of the well might exceed the current level of production," Al Naimi said. The gas discovery was the first reported since Saudi Arabia signed contracts in March 2004 with companies from China, Italy, Russia and Spain for gas exploration and development. Saudi Arabia has reported gas production of seven billion cubic feet a day.
PD's plan looks more profitable better every day ...
Posted by:Fred

#2  Yep - it's well within the 30-40 Km zone. Check this out for the current Saudi production info.

One of the key passages:
"Although Saudi Arabia has around 80 oil and gas fields (and over 1,000 wells), more than half of its oil reserves are contained in only eight fields, including Ghawar (the world's largest oil field, with estimated remaining reserves of 70 billion barrels) and Safaniya (the world's largest offshore oilfield, with estimated reserves of 35 billion barrels). Ghawar's main producing structures are, from north to south: Ain Dar, Shedgum, Uthmaniyah, Farzan, Ghawar, Al Udayliyah, Hawiyah, and Haradh. Overall, Ghawar alone accounts for about half of Saudi Arabia's total oil production capacity"

All of the proven fields lie along the coast from Kuwait to Yemen.

A fairly complete picture as of June, 2004.
Posted by: .com   2004-11-27 12:12:43 PM  

#1  Hmm... now about that Independent Republic of eastern Arabia. Will this be included?
Posted by: N Guard   2004-11-27 11:57:49 AM  

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