Aramco CEO Khalid al-Falih, meanwhile, says the state giant is moving swiftly with plans to improve recovery rates from its existing oil fields: targeting the addition of 160bn barrels to Saudi oil reserves of 260bn barrels through a hike in recovery rates.
Aramco Awards Bring Forward Shaybah 1Mn B/D Target To 2016
17 Jan 2014
Issue:
57 / 3
Saudi Aramco is looking to add 250,000 b/d capacity at the Shaybah field by 2016, a year earlier than previously planned. Two key contracts for work to raise production to 1mn b/d were recently awarded, with a third imminent.
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Aramco: Key Crude Additions (‘000 B/D Capacity)
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