Saudi Aramco Says Looking At New Ventures Around Globe
DHAHRAN, Saudi Arabia, May 10 (Reuters) - State oil company Saudi Aramco wants to expand globally and is looking at potential joint ventures in several countries, including Indonesia, India, the United States, Vietnam and China, chief executive Amin Nasser said on Tuesday.
"We are looking at the current market status that, even though challenging, is an excellent opportunity for growth," he told reporters during a rare media visit to company facilities in Dhahran.
The company is continuing to build its oil production and refining capacity, and its Shaybah oilfield is expected to reach output capacity of 1 million barrels per day "in a couple of weeks", Nasser added.
Aramco has been working to boost Shaybah's capacity by 250,000 bpd to rebalance its crude oil quality and help compensate for the maturing of other fields.
(Reporting by Rania El Gamal; Writing by Andrew Torchia)
WHAT DO YOU THINK?
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.
- Saudi Arabia in Talks to Build Refinery in South Africa (Jan 18)
- Saudi Aramco and Total JV to Hire SMBC to Advise on Funding (Jan 17)
- Saudi Arabia Boosts Reserves Ahead of Aramco's IPO (Jan 09)