Saudi Aramco to raise gas production

JUBAIL, March 9, 2016 – Saudi Aramco aims to increase its gas output over the next 10 years, potentially doubling the produced volumes of the resource, company CEO Amin Nasser said on Tuesday.
Speaking at a refining conference in Jubail, the Aramco head pointed to past successes in growing Saudi Arabia’s gas output. “The kingdom has managed to increase gas production from 3.5 bcf [99.1 mcm] per day in 1982 […] to more than 12 bcf [340 mcm] now, and this figure is expected to double to around 23 bcf [651 mcm] during the coming decade,” Nasser said.

 

Saudi Aramco is also in ongoing talks with China National Petroleum Corporation for a greenfield joint venture refinery. Speaking to Bloomberg on the sidelines of the conference, Nasser said the company is mulling to build similar facilities in India, Indonesia and Vietnam in an effort to increase its global refining capacity and secure new market channels for Saudi oil. According to Nasser, the company’s capacity currently stands at around 5.4 million bpd. Over time, this figure should be raised to between 8 million and 10 million bpd.
Saudi Aramco already holds a stake in the Fujian integrated refining and ethylene facility, along with ExxonMobil and Sinopec. Completed in 2009, it was the first such plant in China with foreign stakeholders involved.

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