Aramco Annual Review: Gas Record, Oil Down

State-owned Saudi Aramco has issued its latest annual review. Gas output is at record levels though both crude production and exports are down.

The freshly-released Saudi Aramco annual report shows a distinct shift in focus toward gas and unconventional gas in particular.

Crude production last year averaged 9.41mn b/d, down from a record 9.51mn b/d the previous year. This translated into total production for 2013 of 3.4bn barrels, though there was no change in overall reserves, which remain steady – according to the official Aramco figures – at 260.2bn barrels despite the discovery of three new oil fields: al-Haryd, Duhul and Salsal.


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