Aramco CEO says capacity reached 12m bpd in June

Khalid al-Falih says figure was reached after start-up of three fields

Saudi Aramco CEO, Khalid al-Falih.
Saudi Aramco CEO, Khalid al-Falih.

Other stories: Top 10 billion dollar oil deals of the summer | 2009's winners and losers in the oil industry10 events in oil's history that shook the world | Top 10 Gulf mega projects | Top 10 largest publicly traded oil companies | Top 10 National Oil Companies by production | World's 10 largest oilfield services companies | World's 10 largest oil and gas contractors

The CEO of the state-owned hydrocarbons giant Saudi Aramco has told a Saudi newspaper that the company’s output capacity reached 12 million barrels per day (bpd) in June.

Speaking to the al-Hayat newspaper, Khalid al-Falih said that the figure was reached after the start-up of three new upstream projects in the Kingdom.

"Production capacity of the company was 12 million barrels per day in June, when output started from three fields which are Nuayyim, Khurais and Shaybah," al-Hayat  reported Falih as saying.

Estimates for Aramco’s current output are around the 8 million bpd mark due to agreed OPEC production cuts. This leaves the KSA with around 4.5 million bpd of spare capacity.

The Kingdom’s extra 500,000 bpd come from the shared Neutral Zone with Kuwait which does not count towards Aramco’s output figures.

"We have a strong [capacity] surplus that has allowed us to reduce our operations in the oil producing sector and related drilling operations," Falih said. "And this has allowed us to double our operations in the production of non-associated gas."

Saudi Arabia has increased its upstream gas activity as domestic demand has soared.

 

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - September 2020

Subscribe Now