When was oil discovered in Saudi Arabia?
Oil was discovered in commercial quantities at the Dammam No. 7 well near Dhahran on 3 March 1938, transforming the economy of the Kingdom.
The discovery
Oil was struck at the Dammam No. 7 well near Dhahran on 3 March 1938, after exploration had begun under a concession granted in 1933.
Impact
The discovery led to the development of the Kingdom's oil industry and made Saudi Arabia one of the world's leading oil producers. Oil revenue funded the rapid modernisation of the country.