Saudi Aramco has begun marketing some of Bahrain’s share of production from the offshore Abu Safah field under an agreement which runs until the end of 2023. The agreement could yet be extended into 2024, although no decision has yet been made on this.
The Abu Safah field lies offshore Saudi Arabia and is operated by Saudi Aramco, but under an agreement from the 1970s output is split 50:50 with nearby Bahrain. Abu Safah’s capacity stands at around 300,000 b/d, and Bahrain has normally marketed its share as Banaco Arab Medium – Aramco meanwhile blends its share into its Arab Medium export grade. (CONTINUED - 764 WORDS)