Saudi Aramco plans to invest $150bn over the next 10 years in its bid to boost raw gas production to 23bn cfd by 2026 (MEES, 15 December 2017). CEO Amin Nasser told the Gulf Petrochemicals and Chemicals Association (GPCA) conference in Dubai this week that output currently stands at 14bn cfd.
If accurate, this is a substantial increase on the 2017 average of 12.4bn cfd reported in the firm’s annual report (MEES, 24 August). The most recent gas facility to come online was the Turaif unconventional project in northern Saudi Arabia in late-2017, but at just 55mn cfd current output hardly moves the needle. (CONTINUED - 939 WORDS)