Saudi Aramco Says Its Oil Output Trending Slightly Upwards


DHAHRAN, Saudi Arabia, May 10 (Reuters) - Saudi Aramco's oil production is trending slightly upwards in 2016 because of growth in demand, chief executive Amin Nasser said on Tuesday.

The company will expand its capacity in future if that is needed, but for the time being its maximum sustainable output capacity is 12 million barrels per day and the nation's total capacity is 12.5 million bpd, he told reporters.

Nasser said the expansion of the company's Khurais oilfield would come on stream in 2018.

He also said there was a big drop in oil output among non-conventional and even other conventional producers.

Mohammed al-Qahtani, senior vice-president for upstream operations, said Aramco expected to operate between 211 and 214 oil and gas drilling rigs this year.

That would be roughly flat from last year, according to previous data from the company.

(Reporting by Rania El Gamal; Writing by Andrew Torchia)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Temporary Clerk*Credit & Collections (Part Time) Job
Expertise: Accounting|Customer Service
Location: Amarillo, TX
Project Manager - Multifamily Construction
Expertise: Construction Manager|Project Management
Location: Orlando, FL
Project Manager / Senior Engineer
Expertise: Civil Engineering|Project Management
Location: St. Louis, MO
search for more jobs

Brent Crude Oil : $51.6/BBL 0.69%
Light Crude Oil : $49.23/BBL 0.78%
Natural Gas : $3.07/MMBtu 0.96%
Updated in last 24 hours