• Saudi crude output to remain down vs 2008

  Filed under News
  Mar 3

  JEDDAH – Saudi Arabias oil production is still down this year compared to 2008 levels, Saudi Aramcos chief executive was reported as saying on Tuesday.

  Crude oil production fell in 2009 and production is still declining this year when compared to the 2008 production level, Khalid Al-Falih was quoted as saying in the Asharq Al-Awsat newspaper. “(Oil) drilling activities for production are on the decline unlike exploration,” Falih said.

  Overall drilling for oil this year is expected to remain the same as last year but Aramco would increase gas drilling activities, industry sources said this week.

  The top oil exporter pumped in February 8.22 million barrels per day (bpd), a Reuters survey showed.

  Saudi Arabia announced last week a new gas find in the Jalamid area, which it said could be commercially exploited. Tests showed the Jalamid-3 discovery well in Al-Sannara reservoir flowed at 12.1 million cubic feet per day (cfd).

  The new gas find in the northern area is very promising and will double exploration activities there, Falih said.

  “The Jalamid field will be an important indication on how much gas can be produced from the northern area…the field will boost prospects of gas production,” Falih added.- Reuters

  

  

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  Tagged as: Aramcos Chief Executive, Asharq Al-Awsat;, crude oil production, gas drilling activities, gas find, gas production, JEDDAH, Khalid Al-Falih, oil exporter, oil production, oil;, Reuters;, Saudi Arabia, the Asharq Al-Awsat
  
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