Aramco Launched Giant Oil Projects

Aramco Launched Giant Oil Projects

Saudi Arabia’s King Salman launched a number of giant oil projects, worth a total of about $42.64b, under Aramco’s Oil Supply Planning and Scheduling (OSPAS) Center at Dhahran, Saudi Gazette reported.

The King launched the mega oil projects with lifting the joystick for energy to flow from various production plants with a total production capacity about 3mb/d. The event launched operations at Manifa oild field, the Wasit Gas Plant, Khurais oil field, and Shaybah oil field, and liquefied gas plants in Empty Quarter (Rub Al-Khali), according to Middle East Monitor.

The king was received by the Minister of Energy, Industry and Mineral Resources Khalid Al-Faleh, and Saudi Aramco’s President and CEO Amin Al-Nasser, in addition to Prince of the Eastern Province, Saud Bin Naif, and adviser at Ministry of Energy, Faisal Bin Turki.

Saudi Arabia’s sweeping plans to reduce its dependence on oil revenue involve boosting the private sector but also include proposals for transforming Saudi society. At the heart of Riyadh’s economic overhaul is national oil company Aramco, which is preparing for the world’s biggest initial public offering (IPO) and has unveiled plans to build a $5b shipbuilding complex in Ras al-Khair as part of an ambitious plan to develop non-oil industries.


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