Saudi Aramco pays a great deal of attention to launch five major expansion projects, aiming to boost Saudi Arabia’s crude oil and natural gas output, according to GlobalData.
These expansions will include four crude oil projects and one natural gas project at its offshore oil fields, according to Aramco’s report, ‘Saudi Aramco After IPO – Company Overview and Development Outlook.’
It is worth noting that Aramco’s maximum sustainable capacity (MSC) reached 12 million barrels per day (bbl/d) of crude oil in 2018, in addition to its spare capacity of 10.5 million barrels per day (mmbbl/d) of oil produced and the remaining 1.5 mmbbl/d. These expansions will contribute to Aramco’s MSC by adding 1.45 mmbbl/d more to its capacity. Thus, one eighth of the world’s crude oil from 2016 to 2018 was produced by Saudi Aramco, in addition to being the world’s largest oil producing company.
“The major expansions at Saudi Aramco’s offshore oil fields of Marjan, Zuluf, Safaniyah, and Berri are expected to comprise the majority of the company’s upstream investment over the next three years. Although these developments will also add gas and NGL capacity, the main addition will be oil,” remarked Somayeh Davodi, Oil and Gas Analyst at GlobalData.