INSEAD Day 4 - 728x90

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Two new unconventional nonconventional gas fields discovered in Saudi Arabia

The row over the Dorra field stretches back to the 1960s, when Iran and Kuwait each awarded an offshore concession. (AFP File)
  • The Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
  • Prince Abdulaziz bin Salman adds that the importance of these discoveries lies in increasing the Kingdom’s natural gas reserves

Riyadh, Saudi Arabia – Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz has announced that Saudi Aramco has discovered two new nonconventional unconventional natural gas fields in the eastern region.

He said that Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf.

Gas flowed from Awtad-108001 well at a rate of 10 million standard cubic feet daily, along with a daily 740 barrels of condensate, and from Awtad-100921 well at a rate of 16.9 million standard cubic feet daily, along with a daily 165 barrels of condensate.

He added that AlDahna unconventional nonconventional gas field has also been discovered 230 km southwest of Dhahran. Gas flowed from AlDahna–4 well4 at a rate of 8.1 million standard cubic feet daily, and from AlDahna-370100 well at a rate of 17.5 million standard cubic feet daily, along with a daily 362 barrels of condensate.

Prince Abdulaziz said that the importance of these discoveries lies in increasing the Kingdom’s natural gas reserves, which would in turn support the Kingdom’s strategies and help realize the objectives of the Liquid Fuel Displacement Program.

He added that the discoveries underline the wealth of natural resources the Kingdom has at its disposal.