Prince Abdulaziz Aramco Discovers 14 New Oil and Gas Fields

In a major boost to its upstream ambitions, Saudi Arabia has announced the discovery of 14 new oil and gas fields and reservoirs across the Eastern Province and the Rub’ al Khali (Empty Quarter).

The announcement was made Wednesday by Saudi Energy Minister Prince Abdulaziz bin Salman, who described the discoveries as a strategic milestone in the Kingdom’s energy exploration efforts. The new finds, confirmed by state oil giant Saudi Aramco, are expected to bolster national reserves and support long-term energy security and economic growth, according to reporting from the Saudi Press Agency (SPA).

“These discoveries reflect the continuous innovation and geological understanding of our subsurface,” said Prince Abdulaziz. “They reaffirm the Kingdom’s capacity to sustain its position in global energy markets well into the future.”

The news comes just days after Saudi Aramco cut its official selling price (OSP) for May deliveries of Arab Light crude to Asia by $2.30, setting the premium at $1.20 per barrel above the Oman/Dubai average—near the lowest level seen in four years. The price cut has fueled speculation that Riyadh is aiming to aggressively defend market share, potentially in coordination with broader OPEC+ production strategies.

The dual announcement signals a two-pronged approach: securing long-term reserves through exploration, while staying agile in the near term to respond to shifting global demand dynamics.