Saudi Aramco's expansion plans

by: Michael McAllister

On June 28 the Senior Vice President of Gas Operations for Saudi Aramco, Khalid Al-Falih, made a presentation to the Center for Strategic and International Studies.   We found the 17 slides rather underwhelming with a great deal of ambiguous and vague rhetoric. 

Slide 6 did show a time-line of projects which should be tracked for execution ability.   We really need greater transparency from Aramco. We believe more data would have a greater impact in calming the violent commodity markets.

Here are the upcoming projects:

• Haradh III: 300 MBD(NYSE:AL) in 2006

• AFK: 500 MBD(AL) in 2007

• Shaybah: 200 MBD(NYSE:AXL) in 2009

• Nuayyim: 100 MBD(ASL) in 2009

• Khurais: 1,200 MBD(AL) in 2009

• More increments in the beginning of the new decade

Number of drilling rigs to double by 2006