Big ‘treasure’ found in Saudi Arabia
Saudi Arabia News: Reserves worth millions of dollars have been found in Saudi Arabia, which is no less than a big treasure. Meanwhile, a treasure trove worth millions of dollars has been found buried in the land of a Muslim country. On Sunday (February 25), the government of Saudi Arabia said that oil company Aramco has found 15 trillion cubic feet of gas in the Jafurah field. The benefit from this will be that the energy sector will get a boost. This has been confirmed by the Energy Ministry of Saudi Arabia by issuing a statement.
Saudi Arabia’s Energy Minister Prince Abdullah Aziz bin Salman also said that Aramco has found additional reserves in the Jafurah field, along with 15 trillion cubic feet of gas and two billion barrels of condensate. The resources in the energy sector from this treasury are estimated to be 229 trillion standard cubic feet of gas and 75 billion barrels of condensate.
Last year also Saudi Arabia had found such a treasure
According to the report of Arab News, in November 2023 also the Saudi Arabian government had informed that two fields of natural gas had also been discovered in the Eastern Province. It was reported that natural gas was discovered in two wells, Al-Hiran and Al-Mahakeq. The Jafurah gas field is located southeast of the Ghawar oil field in the Eastern Province of Saudi Arabia. Riyadh has expressed commitment to developing this area. Natural gas production at Jafurah is expected to reach 2 billion standard cubic feet per day of shale gas by 2030.
Saudi Arabia’s treasury is depleting
Saudi Arabia’s Prince Mohammed bin Salman Allah Saud is spending crores of rupees on megaprojects in the country and abroad. This has led to a major decline in the cash and fiscal assets of the Kingdom’s Public Investment Fund. According to the Wall Street Journal, Saudi officials said that from 2022 till now it has seen a huge decline.
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