Reuters says that Saudi Aramco has recently used advanced seismic technology to explore the Arabian Desert, hoping to expand the amount of reserves before the initial public offering (IPO) next year to raise more funds.
Saudi Aramco has organized a team of about 900 people, oil and gas exploration in the area of 15,400 square kilometers around Turayqa gas field. The Turayqa gas field was discovered in 2013 and is a conventional gas field on land, without oil. The company has set up four joint ventures with foreign companies in 2003 and 2004 to carry out oil and gas exploration activities in the Arabian Desert, but none of them found commercial oil and gas. The area of the re-exploration includes some of areas that were not previously discovered oil and gas.
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