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Monday, May 25, 2009

Saudis terms new oil field a 'mega project'

ABU DHABI — Saudi Arabia plans to launch production next month at the major new Khurais oil field.   

The state-owned Saudi Aramco said production at the 1.2 million barrel per day Khurais would begin in June 2009. Khurais was deemed the largest of three oil field projects developed by the Gulf Arab kingdom.

"Khurais, a mega project, will add 1.2 million barrels per day of Arabian Light crude oil to the company's output in a few weeks time," Aramco said on May 21.

Also In This Edition

The other two fields developed by Aramaco were identified as Shaybah and Nuayim.

In all, Aramco plans to increase total crude oil production capacity to 12.5 million barrels per day by June. Riyad has been producing about 7.9 million barrels per day.

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