Saudi Arabia is moving ahead with the expansion of its giant Khurais oilfield but the project would move slower than originally planned because of budgetary reasons, reported the Saudi Daily Record.
Saudi Aramco has slowed some projects, shelved less important ones and asked for discounts on some contracts which it had awarded , all in response to declining oil prices.
According to Trade Arabia the original time frame to complete the expansion was 2017, with possible completion in 2018.
The project plans to raise Khurais’ output by 300,000 b/d to 1.5 million, and allow it to produce 143 million standard cubic feet per day of associated gas and 34,000 b/d of natural gas liquids.
“Khurais is going ahead but not as fast because of the budget,” one industry source said.