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FINANCIAL NEWS
Saudi Aramco plans drilling-rigs increase by 12% in 2012
25 Dec 2011
(MENAFN) Former Saudi Aramco executive said the state-run energy company seeks to boost its drilling-rig operations by 12 percent to 145 in 2012, to increase natural-gas and oil output from its Manifa field, Bloomberg reported.
Sadad al-Husseini, former Saudi Aramco vice president and founder of Husseini Energy, said most drilling operations are focused on natural gas, adding that Saudi Aramco will drill for gas onshore in northern Saudi Arabia and near the Shaybah oil field in the Empty Quarter desert, as well as offshore in Hasbah field in the Arabian Gulf.
He also unveiled planned 50 drilling rigs for oil, 50 for gas, 15 exploration rigs and 30 workover rigs to maintain existing wells next year.
Saudi Aramco is increasing the number of drilling rigs in its Manifa field to 20 next year from the current eight, al- Husseini said.
Earlier this month, Khalid Al-Falih, CEO of Saudi Aramco, unveiled plans to invest USD17 billion in Manifa field, the world’s fifth largest oil field, to bring the full field development 10 years ahead of its original schedule.
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