The Saudi Aramco Company announced that it would raise its gas output to 5.2 million cubic meters per day by the end of 2001. In the future, Aramco intends to further increase its gas production capacity to 7.5 million cubic meters per day.
In a move that will further increase gas output in the Kingdom, Saudi Arabia recently signed contracts with eight international companies to invest and develop its local gas sector, according to Al-Hayat daily. The companies will invest an initial $30 billion in the sector, with an additional $46 billion expected in the future.
Official sources estimate the available gas reserves in Saudi Arabia at 33 to 35 trillion cubic meters, though several unofficial sources believe reserve quantities to be even higher. –(MENA Report)
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