Saudi Arabia has pushed the due date for ‘peak oil’ off a bit. Saudi Gazette reports on the discovery of five new oil fields and three new gas fields in the Eastern Province. These are not major fields, with potential production ranging from 115bpd to over 2,000bpd, but cumulatively they add a nice piece of potential production when oil prices rise enough to make exploitation worth while.

Aramco finds 5 more oilfields, 3 new gas fields

RIYADH – Saudi Aramco has discovered five new oilfields and three new gas fields in the Eastern Province.

One of the five oilfields is located offshore, said Minister of Petroleum and Mineral Resources Ali Bin Ibrahim Al-Naimi.

The oil wells are named Jaouf-11, Ramthan-9, Nayashen-1, Jarid-101 and Khursaniya-114.

Jaouf-11 well, located 300 km northwest of Dhahran, has the Lower Dharma oil trap as one of its sources. Oil flows from a depth of 8,025 feet at the rate of 2,551 bpd with a density of 37°, according to the API (American Petroleum Institute) scale.

Marking a first for the Lower Dharma oil trap, gas also flows from the well at the rate of 1.2 million cubic feet per day.

Jaouf-11 is also fed by the Marat oil trap, at 1,715 feet depth and the rate of 1,620 bpd with a density of 36.4° on the API scale. It also emits 0.87 cubic feet of gas per day. The discovery has boosted the estimated oil reserves of the Marat oil trap.
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Arab News also reports, citing gas production figures ranging from 1.2 million to 41.3 million cubic feet of gas potential: Five new oil fields found