Saudi Aramco is preparing to bring online two major offshore oil increments that will maintain its 12mn b/d Maximum Sustainable Capacity (MSC). The Marjan and Berri increments are due to be completed this year, and CEO Amin Nasser told the Energy Intelligence Forum in London this week that both remain on track, without providing further information.
The Middle East, with Saudi Arabia at the forefront, benefits from some of the world’s lowest natural decline rates. The IEA recently estimated them at just 1.8% (MEES, 19 September), but even at such low rates, maintaining capacity of 12mn b/d means replacing 216,000 b/d every year. This is where Aramco’s ongoing program of primarily offshore increments comes into play. (CONTINUED - 790 WORDS)
