Saudi Arabia targets 12 million b/d by yearend 2009

Saudi Arabia plans to increase its crude oil production to 12 million b/d by the end of 2009, according to Saudi Aramco Pres. and Chief Executive Officer Abdallah S. Jum’ah.Juma’ah told delegates at the annual Asia Oil & Gas Conference in Kuala Lumpur that Aramco currently has half a dozen major oil increments at various stages of development, with a total production capacity of some 3 million b/d.“In other words, in the next 5-6 years, we will be adding production capacity. Some of that capacity will offset natural decline, while the remainder will serve to expand our maximum sustained production capability, which by the end of 2009 will reach 12 million b/d,”...

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