Riyadh – Mubasher: Saudi Arabia announced discovering large quantities of gas in the Red Sea, the Saudi Press Agency (SPA) reported on Saturday, citing the kingdom’s energy minister Khalid Al-Falih as saying.

The state-owned Saudi Arabian Oil Co, known globally as Saudi Aramco, will implement the project’s feasibility studies to see the possibility of exploration in this area over the next two years, Al-Falih added.

On a related note, Aramco, the largest global oil firm, has affirmed the importance of investing in gas industry, in addition to acquiring and developing gas assets over the coming period.

Aramco also plans to take over gas assets in North America in a bid to boost its portfolio.