Aramco Said to Expand Oil Field to Maintain Saudi Capacity
- Shaybah oilfield capacity to rise to 1 million barrels a day
- Field to help Aramco keep capacity at 12 million barrels a day
Challenges to Saudi Arabia's Vison for Life After Oil
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Saudi Arabian Oil Co. will complete the expansion of its Shaybah oilfield by the end of May, allowing the biggest crude exporter in the world to maintain its total production capacity, according to two people with knowledge of the plan.
Shaybah’s output capacity will rise to 1 million barrels a day from 750,000 barrels, said the people, who asked not to be identified because the information isn’t public. The field, in the Empty Quarter desert near the border with the United Arab Emirates, produces extra light grade crude with an API gravity of 42 degrees, they said.