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.
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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.