Building a world of
resilient communities.

MAIN LIST

 

Saudi Aramco to boost oil production

Saudi Aramco is planning to carry out two new projects by the end of the decade aimed at boosting the country's oil production.

According to the head of the state-run oil company, Saudi Arabia is producing less than 9 million barrels per day (bpd).

Saudi Aramco's chief execurive officer and president Abdallah Jumah was speaking at the Oil Summit of the Cambridge Energy Research Association's Annual Conference (CERA Week 2005) where he announced the company was in talks with prospective partners over a new export-oriented refinery.

"We have developed a plan to build, at least initially, an export refinery in the kingdom. And we are now talking to many prospective venturers," Jumah said.

Though he did not say which companies were being considered for the new plant, last month it was made known that Indian firms could possibly be invited to participate in a new 400,00-0 bpd plant.

The CEO reiterated that Aramco's Khursaniyah project would reach 500,000 bpd production in 2007 and that output from its Khurais oilfield was likely to total more than 1 million bpd before the end of the decade, closer to 2009.

These two projects form the cornerstone of the kingdom's bid to raise production capacity to 12.5 million bpd to satisfy growing world demand.

Editorial Notes: This report contrasts sharply with Matthew Simmons's far less optimistic comments here: www.energybulletin.net/4428.html -AF

What do you think? Leave a comment below.

Sign up for regular Resilience bulletins direct to your email.

Take action!  

Find out more about Community Resilience. See our COMMUNITIES page
Start your own projects. See our RESOURCES page.
Help build resilience. DONATE NOW.

 

This is a community site and the discussion is moderated. The rules in brief: no personal abuse and no climate denial. Complete Guidelines.

Tags:  

Peak Oil in an Era of Fossil Fuel Abundance

Chris Nelder on why peak oil isn't dead.

Peak Oil Notes - May 28

Oil prices have fallen for three straight sessions this week closing …

Surge in Renewables Remakes California’s Energy Landscape

Thanks to favorable geography, innovative government policies, and …

BC LNG Lost Its Window of Opportunity, Study Finds

The window of opportunity to capture Asian gas markets has eluded proposed …

Peak Oil Review - May 26

A weekly review including Oil and the Global Economy, The Middle East & …

Peak Oil Notes - May 22

A midweek roundup. After a five-session losing streak, oil prices reversed …

Review: Afterburn by Richard Heinberg

Heinberg, who has few peers in the art of distilling complex messages down …