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WEEKLY NEWSLETTER
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Saudi Arabia
Index
In the early 1990s, Saudi Arabia was engaged in five major
programs to raise production capacity of crude oil to 10 million
bpd by the mid-1990s. The overall plan was originally scheduled
for completion in 1998, but accelerated activity in the wake of
the gulf crisis and the allocation of additional funds has moved
the projected completion date to 1994. The cost of this program
has jumped from US$13 billion to between US$17 billion to US$20
billion. The needs associated with the gulf crisis largely
entailed activating existing capacity, which lay unused after
output fell in the mid-1980s. This requirement involved
recommissioning nearly 150 wells and 12 GOSPs. By the end of
1990, that effort yielded total sustainable capacity of 8.8
million bpd. In addition to the war effort, Saudi Aramco has been
involved in bringing on-line a number of GOSPs in existing and
known areas such as As Saffaniyah, Al Uthmaniyah, and Abqaiq, all
in the Eastern Province. Finally, Saudi Aramco began development
of its new light crude oil finds in the central region, with the
expectation that it could produce 150,000 bpd of Arab Super Light
from Al Hawtah field, south of Riyadh. Following Saudi Aramco's
mandate to conduct such activities in the entire country, it has
begun exploration in nontraditional areas such as the central
region and along the Red Sea coast. Prior to the gulf crisis, AOC
and Getty Oil had plans to step up their exploration and
development activity. These have been revised in light of the
damage to existing facilities sustained during the war.
Data as of December 1992
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