Saudi Arabia discovers new oil field
Saudi Arabia, Economics, 5/10/2005

Saudi Arabia announced on Monday that it has discovered a new oil field to the east of the country with a daily production of 6,000 barrels per day of light crude in tests carried out in April.

The Saudi minister of oil Ali al-Neumi said that the tests which were carried out at "Halfa- A" oil field produced also 4.2 million cubic meters of gas. He added that the well is expected to reach highest production levels.

This new discovery was made at a distance of 320 mm to the south of al-Zahran city and 280 Km to the southern east of the capital al-Riyadh.

Simultaneously the secretary of the ministry of oil and mineral resources Abdul Rahman Bin Abdul Karim said that his country embarks on the policy to expand and carry out new petrochemical projects as well as renovating standing ones, especially under the continued increased demands for oil.

The Saudi official indicated that his country has the world's one quarter reserves of oil and the world's one quarter reserves of gas. He indicated strong evidences of huge amounts of undiscovered gas and oil in the kingdom.

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