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