Exploration

At year-end 2016, our recoverable crude oil and condensate reserves stood at 260.8 billion barrels. Gas reserves grew to 298.7 trillion standard cubic feet (scf).  

We continued progress in our unconventional gas program. We completed wells in northern Saudi Arabia to help meet our commitment to deliver 55 million scfd of gas by year-end 2017 to industrial and electrical power facilities in the Wa’ad Al Shamal industrial city project. In addition, we completed wells in South Ghawar and the Jafurah Basin.

Adding to our resource base

In 2016, we discovered two new oil fields, Jubah, 300 kilometers north of Dammam, and Sahaban, 280 km south of Dammam, and one new gas field, Hadidah, 470 km south of Dammam. At year-end, our total number of fields was regrouped to 130 fields.

Our ongoing success in adding gas reserves — especially nonassociated gas — provides the domestic economy with additional and cleaner potential energy, and supplies of fuel and feedstock that can be harnessed for greater opportunity.

Our proficiency in finding new oil and gas reserves enables our sustainable growth as a company. We secure this growth by enhancing the expertise of our people, developing and deploying the latest technologies, and continuously improving the efficiency of our operations to sustain our best-in-class performance.

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