Saudi Aramco Aims to Have 120 Drilling Rigs by the End of the Year
- Pipeline
- Saudi Aramco News
- Industry News
Author: Aramco ExPats
Released 6 November 2006
In order to meet the world's growing energy needs, Saudi Aramco has embarked on a series of enormous "mega projects” to increase its maximum sustainable production capacity to 12 million barrels per day by 2009. These mega projects are supported by an ambitious drilling program that aims to have 120 drilling rigs in operation by the end of this year.
"This number will reach 130 rigs early next year, more than doubling in number from 55 in 2004," said Saudi Aramco petroleum engineer Hiba A. Dialdin.
Dialdin, set the context for her remarks by noting that the anticipated continued rise in oil demand worldwide will result in an increasingly important role for OPEC production, with the major output coming from Saudi Arabia.
"This has put the onus on Saudi Aramco to intensify its efforts to meet global demand," Dialdin said.
With decades of experience behind it, Saudi Aramco is well-equipped to take on the challenge. Dialdin said that there are four pillars supporting Saudi Aramco's upstream strategy: the Company's large resource base, qualified human resources, appropriate application of technology, and careful reservoir management tenets.
"What sets Saudi Aramco apart is our ability to optimally coordinate all four of these elements," she said.