Aramco to expand Shaybah, Khurais oil output
Daegu, South Korea, October 13, 2013
The world's largest oil exporter, Saudi Aramco, will increase the output of light sour crude from two fields - Shaybah and Khurais - by 550,000 barrels per day (bpd) in 2016-2017, chief executive Khalid Al-Falih said on Sunday.
"This will basically allow us to relax production from the more matured fields and reservoirs and extend them and also to rebalance our crude slate," the head of Saudi Arabia's national oil company told reporters on the sidelines of the World Energy Congress.
"With Manifa, we're tilting towards more heavy (crude)," he said, referring to the giant oilfield which started production earlier this year.
"Shaybah will come first ... it will come up by end of 2016 and early 2017," Al-Falih said.
"This will bring it up to a million barrels (per day). We're in the process of awarding the contract in the next few days."
He added that Khurais was in the front-end engineering stage and the expansion should be completed by 2017. - Reuters
More Energy, Oil & Gas Stories
- 40 Chinese firms to exhibit at energy summit
- More refinery closures on the cards for 2014: IEA
- Libya’s eastern oil ports likely to reopen Sunday
- Saudi plans to double power generation
- Iran decades away from becoming gas export giant
- Pakistan, Iran to speed up gas pipeline project
- Opec cuts output closer to 2014 demand
- Oil industry struggling to attract women, says survey
- Rolls Royce wins Abu Dhabi offshore deal
- Alternative energy strategies probed