Company Shows Way in E&P Research
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Author: Saudi Aramco News
Released 23 January 2008
RIYADH, January 23, 2008 -- Ever-increasing demand for oil is a concern both for the energy industry and consumers around the world.
Seeking innovative approaches for the future was the theme of the recent Saudi Meeting on Oil and Gas Exploration and Production Technologies. Saudi Aramco played a major role with its full participation in the conference.
Amin H. Nasser thanks Ali I. Al-Naimi for his participation in the Saudi Meeting on Oil and Gas Exploration and Production Technologies.
"The ultimate goal of technology is successful scientific research and its application in petroleum fields all over the Kingdom,” Ali I. Al-Naimi, Minister of Petroleum and Mineral Resources, told delegates in his opening remarks. “Saudi Aramco is now considered the leading company in the field of research related to oil and gas exploration technologies and the management of these rich reservoirs.”
Al-Naimi noted that Saudi Aramco’s Research and Development Center, which has 65 patents and another 130 pending, is exploring new technologies that may provide big dividends to the industry in the future.
“This center is tackling scientific research in addition to developing new technologies and providing specialized laboratory services to increase the company’s profits efficiently and economically,” the oil minister said.
One goal of the meeting was to encourage cooperation among oil companies, universities and research centers inside and outside the Kingdom to increase reservoir recovery rates. The meeting also provided a chance for professionals, researchers and academics to share opinions, expertise and knowledge.
Professionals, researchers and academics gathered in Riyadh to share opinions, expertise and knowledge at the meeting.
Then-acting Exploration and Producing business line head Amin H. Nasser discussed Saudi Aramco’s awareness of its global responsibilities, saying that global demand for oil will most likely increase by about 20 percent over the next 20 years.
He outlined the company’s medium- and long-term plans and its balanced strategy to increase production. That strategy is based on four elements: natural resources; Saudi Aramco’s huge database; qualified, well-trained human resources; and careful reservoir management to attain best practices in the long run.
Dr. Sami Al-Nuaim served as chairman of the scientific committee for the meeting.
Leading academics also voiced their opinions. Dr. Muhammad Suwayyil, president of King Abdulaziz City for Science and Technology, said the Kingdom has a keen interest in scientific research and technical development. He pointed out that SR8 billion of this year’s budget is earmarked for the nation’s first five-year science and technology plan.
Oil has played an important part in the Kingdom’s development over the years, and that is a trend experts say will continue for some time.
“The last barrel of oil will be produced by the Kingdom as it has the largest oil reserves,” said Saudi Aramco’s Dr. Sami Al-Nuaim, a senior adviser who also served as chairman of the meeting’s scientific committee. “The demand for oil is going to continue to grow.”
(Reported by Khalid Altowelli)