Worldwide Web WorldTribune.com

  breaking... 


Tuesday, August 7, 2007

Saudis increase oil production by 100,000 barrels per day

ABU DHABI — Saudi Arabia has increased crude oil production.

The state-owned Saudi Aramco reported an increase of its maximum sustained crude-oil production capacity to 10.8 million barrels a day. They said the figure, achieved during the first half of 2007, marked an increase of 100,000 barrels per day since the end of 2006.

In a report, Aramco said it has advanced in plans to increase oil and natural gas production. The July 30 report said Aramco would "meet or exceed" a goal to add five trillion cubic feet of non-associated gas in 2007. In the first half of 2007, Aramco operated 102 oil and gas fields.

Also In This Edition

The company said the Khursaniyah field would be operational by the end of 2007. Aramco also said the expansion of the Hawiyah gas plant and construction of the Hawiyah NGL recovery plant were ahead of schedule.

Meanwhile, the United Arab Emirates has unveiled a three-year energy plan that would bolster strategic oil reserves.

The UAE Energy Ministry disclosed its 2008-10 strategic plan that covers energy, power and water development. The plan contains 16 initiatives, including the establishment of a comprehensive oil database.

"The plan has been drafted following the recommendations of the UAE government strategy, which was announced earlier this year," the ministry said on Aug. 1. "The strategy seeks to ensure a balanced sustainable development and high standard of living for citizens and residents."

The plan was designed to encourage private investment in the energy and power sectors. The ministry said it would prepare geological maps and reports that cover 68,500 square kilometers in an effort to draft energy and other forecasts.

About Us     l    Contact Us     l    Geostrategy-Direct.com     l    East-Asia-Intel.com
Copyright © 2007    East West Services, Inc.    All rights reserved.
World Tribune.com is a publication of East West Services, Inc.