The state-owned energy giant Saudi Aramco plans to launch its largest new oilfield in June as part of its plans to raise crude capacity to 12.5 million barrels per day (bpd), according to Saudi newspaper Al-Hayat.
“The Khurais oil project ... will open as scheduled in June,” An unnamed source was quoted by Al-Hayat as saying.
The Khurais project, which includes the two smaller oilfields of Abu Jifan and Mazalij , has an estimated cost of around US$10 billion and with an output of 1.2 million bpd is set to become the largest ever single addition to oil capacity to date. Drilling was completed in March 10 months ahead of schedule.
Located 300km to the east of Saudi capital Riyadh, the Khurais project is also expected to produce 70,000 bpd of natural gas liquids and 315 million standard cubic feet per day (scfd) of sour gas in addition to the 1.2 million bpd of Arabian Light crude.
The King is calling for a halt to exploration, but do you agree?
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