Saudi Arabia discovers oil field, produces 3300 barrels daily
Saudi Arabia, Economics, 4/19/2005

Saudi Arabia has discovered a new oil field in the center of the country that produces light crude oil at a rate of 3300 barrels per day.

The Saudi minister of oil and mineral resources Ali al-Nueimi said that the Saudi Aramco company had discovered ( Deiban 1) well, situated 125 Km to the south east of the capital Riyadh.

Al-Nueimi explained that the discovered oil is light and free of sulfur with a density of 41 grade at the scale of the American oil institute.

The Saudi minister expected that the discovered oil well will achieve higher production rates under ordinary production conditions.

OPEC sources said that Saudi Arabia pumps 9.5 million barrels daily this month. Industry sources expected the kingdom's production to increase at 10 million barrels in May.

Saudi Arabia has started an ambitious plan to increase the officially limited production capacity from 11 million barrels daily to 12.5 million barrels in 2009.

Previous Stories:
  Rasheed: Egypt, Saudi Arabia agree to multiply trade exchange   (4/4/2005)
  Saudi Arabia does not intend to ban foreign labor   (3/28/2005)
  Saudi Arabia plans to increase oil production capacity by 2.3 million   (3/14/2005)
  Saudi Arabia achieves high economic growth   (10/28/2004)
  Study underway to transport oil from Sidi krir to Ain Sukhna   (10/12/2004)

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