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Fri 1 Jun 2007 12:00 AM

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Domestic demand driving quest for more gas

Saudi Arabia will start pumping gas from the US $3 billion Karan field in 2012, according to oil minister Ali al-Naimi.

Saudi Arabia will start pumping gas from the US $3 billion Karan field in 2012, according to oil minister Ali al-Naimi.

Saudi Arabia is increasing its exploration efforts in a bid to boost natural gas reserves by around 40% in the next ten years. Al-Naimi said this was a response to the rising domestic demand.

"We are planning to add, in the next 10 years, 100 trillion cf to our current reserves of gas," said al-Naimi, speaking at a conference on economic development in Riyadh.

He also said domestic gas sales were expected to rise by 40% between now and 2012. Saudi Arabia also plans to drill 186 exploration wells for gas and 332 development wells by 2012.

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