Saudi Arabia's oil giant Aramco has discovered 14 oil and natural gas fields and reservoirs, in what could be a major boost to the kingdom in a time of global economic turmoil.
Energy Minister Prince Abdulaziz bin Salman said six fields and two reservoirs of Arabian oil and two fields and four reservoirs of natural gas were found in the eastern region and the Empty Quarter.
Prince Abdulaziz said the finds will strengthen the kingdom's ability to meet domestic and global energy demand for decades to come.
"These discoveries will also support sustained economic growth and prosperity, in line with Vision 2030 and Saudi Arabia’s ambitious goals to fully harness its natural resources and enhance global energy security," he said.
Among the discoveries in the eastern region were the Jabu, Sayahid and Ayfan oil fields. Jubaila reservoir was discovered in the Berri field while the Unayzah-A oil reservoir was discovered in the Mazalij field. The minister also announced the Ghizlan and Araam gas fields.
In the Empty Quarter, the Nuwayr, Damda-1 and Qurqas oil fields were discovered, along with the Mishrif-D reservoir. In addition the Arab-C and Upper Jubaila gas reservoirs were also announced on Wednesday.
Saudi Arabia has been aggressively pursuing diversification away from oil and gas, but remains reliant on a price per barrel of more than $90 to break even - far higher than current rates of $60-$70. The kingdom produced nearly 9 million barrels per day of crude in February, according to Opec's March report.
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