RIYADH, 28 December 2020, (TON): Saudi Aramco has discovered four new oil wells in al-Reesh oil field, northwest of Dhahran, and in al-Ajramiyah Well No. 1, northwest of the city of Rafhaa in the Northern Borders Province. Non-conventional gas has also been discovered in al-Sarrah reservoir at al-Minahhaz well, southwest of the Ghawar oil field, and at al-Sahbaa well, south of Ghawar.

Saudi Energy Minister Prince Abdulaziz bin Salman Al Saud said on Sunday while confirming the discoveries said, Saudi Aramco continues to work on determining the size and volume of discovered fields. It is part of Crown Prince Mohammed bin Salman's Vision 2030 plan.   

The discoveries about two oil and gas fields in the northern border region were announced in August this year. These facilities are controlled by Saudi Aramco, which is falls under Saudi Arabia's Ministry of Petroleum and Mineral Resources and the Supreme Council for Petroleum and Minerals.  Saudi Aramco is mostly state-owned, but had an Initial Public Offering (IPO) of 1.5% of the company in December 2019. The IPO valued roughly $1.7 trillion, becoming Saudi Aramco IPO the world’s biggest share offering ever but it was limited to its own national companies.