Saudi Arabia to invest US$45 billion in Shaybah oil field expansion

Published April 6th, 2011 - 08:27 GMT
A flame spurting from an oil refinery in Saudi Arabia
A flame spurting from an oil refinery in Saudi Arabia

Saudi Aramco is working these days to implement an ambitious plans aimed at developing al-Shaybah field system to increase oil production. The total costs of this plan amounts to SR186.75 billion (equivalent to US$ 45 billion). Shaybah field’s current capacity amounts to 750,000 b/d. 

According to yallafinance.com, The above mentioned cost does not include Aramco’s joint projects in the field of refining and petrochemical production valued at SR131.25 billion.
 
The Shaybah oil field is located in one of the most remote areas in Saudi Arabia. It is situated in an isolated desert area known as the Rub’ al-Khali (The Empty Quarter). Through the years, Shaybah has undergone various expansions. An upgrade completed in June 2009 boosted its crude capacity from 500,000 b/d to its current capacity.

 

 


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