Saudi Aramco still targeting 12 mbpd
Khursaniyah, Shaybah, Nuayyim, Khurais and Manifah fields would be the source of the additional output.
Saudi Aramco has restated its determination to increase oil output to twelve million barrels per day (bpd) by the end of 2009. Abdallah S. Al-Saif, senior VP of exploration and production, said last month that the Khursaniyah, Shaybah, Nuayyim, Khurais and Manifah fields would be the source of the additional output.
“Saudi Aramco is significantly expanding its efforts to play its part in meeting global demand,” he told a meeting of the Society of Petroleum Engineers (SPE). “In the long run, the company will be embarking on major initiatives in exploration, delineation and R&D that are poised to generate huge additions to its recoverable hydrocarbon resource base over the coming decades.”
A recent meeting of Saudi Aramco’s board of directors heard about plans to increase production at Khurais by 1.2 million barrels per day. Saudi Aramco said it plans to utilise the latest reservoir management techniques to maximise recovery and ensure the longevity of the field.
The board also heard about plans to extract as much as 1 billion standard cubic feet per day of Khuff gas from the Karan Field.
“The company is administering and executing ambitious upstream and downstream expansion programs, involving historically high levels of capital expenditures,” said Abdallah S. Jum’ah, president and chief executive of Saudi Aramco.
“All these operations and activities place responsibilities upon all levels of management and all employees. In the performance of our jobs, in the achievement of our corporate objectives, and in the preservation of the safety of our people and operations, we must all do our part and take personal responsibility.”