The situation in the oil and gas industry turned out to be very favorable for Saudi Aramco. At the end of August, Saudi Aramco discovered two oil and gas fields in the northern parts of Saudi Arabia.
The energy minister Prince Abdulaziz bin Salman Al-Saud said that the discovery of those fields could help the company increase its revenue. The Hadbat Al-Hijrah field, located near the border with Iraq in al-Jawf province, is estimated to flow 16 million cubic feet of gas per day (453.1 thousand cubic meters).
Another reservoir, Abrak at-Tulul located in al-Hudud al-Shamaliya province, produces 3,000 barrels of oil, 49,000 barrels of condensate, and 1.1 million cubic feet of gas (31.1 thousand cubic meters) per day.
Saudi Aramco, which produced 12.7 million barrels per day in the second quarter of 2020, is sure to take advantage of its new gas field, strengthening its position even more in the commodity market.
