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75 years: Saudi Arabia's Diamond Era
KPC Silver Jubilee
Saudi Aramco ... waiting for the
global economic rebound
Saudi Aramco Review
Aramco adopts prudent policy
Despite the economic downturn, Saudi Aramco is unlikely to start cancelling long-term
projects due to be tendered in the coming five years as it wants to emphasise its long-term market-balancing role, although announcements of temporary project deferrals are likely
SAUDI Aramco, the biggest oil corporation in the world with the largest proven crude oil reserves and production, has announced an effective cut in its predicted project spending through 2014 to $60 billion, down from previous targets of $120-130 billion.
Downturn helps cut project costs
With the completion of Khurais, Shaybah, Nuayyim and Khursaniyah oilfield developments, Aramco’s capex is bound to be reduced relative to past spending levels
INTERNATIONAL contractors were prepared for the worst when Saudi Aramco summoned them to a meeting at its Al-Khobar headquarters in the first week of March. With oil prices barely one-third of their mid-2008 peak of nearly $150 a barrel, the news from the world’s largest oil producer was unlikely to be positive.
Exploration thrust yields discoveries
The likelihood of discovering additional reserves is high, with more than half of Saudi Arabia’s potential hydrocarbon-bearing areas still relatively unexplored
SAUDI Aramco’s oil and gas reserves are contained in more than 104 fields, only 23 of which were in production in 2008, encompassing 354 different reservoirs.
Saudis pledge to keep oil flowing
Oil prices and energy security remain at the top of the international agenda as major, long-term challenges that must be urgently addressed by consumers and producers
SAUDI Arabia’s Minister of Petroleum and Mineral Resources Ali Al-Naimi reaffirms that Saudi Arabia is committed to the availability of petroleum to global markets, especially for developing and emerging countries, pointing out that this pledge is backed by concrete plans and actions, and by the commitment of some $70 billion for capital projects.The deepest recession in 80 years complicates the energy scene, he says.
Facilities gain from latest materials
Demand for hydrocarbons, though in a temporary slump, is projected to continue its upward climb, and with it, construction of new facilities to deliver those hydrocarbons
IN AN environment of stiff competition for expertise, equipment, materials and manpower, materials engineering plays a crucial role in building critical projects, introducing new ideas to deal with construction challenges.
Oil reserves kept at steady levels
Analysts point out that the new reserves booked by Aramco last year
came from drilling deeper in old structures
SAUDI Aramco has played a stabilising force in world oil markets over the past 12 months, cutting output this year to help put a floor under falling oil prices after last year ramping up production to its highest level in years in a bid to ease soaring oil prices. Despite those disruptive factors, the company says it managed to carry out an oil exploration programme last year that replaced every barrel it produced – again. Sceptics note that Saudi oil reserve numbers have stayed static around 260 billion barrels for over a decade, despite several billion barrels of annual crude production. But Saudi engineers stand firmly behind their ability to replace every barrel they produce through exploration.While aiming for more continuity this year, Aramco will need to deal with changes in the company, including the election of a new chief executive, Khaled Al-Falih, and a shift to finding and exploiting more of the kingdom’s vast natural gas reserves.
Plans revamped in light of downturn
Excess capacity also leaves the kingdom in a stronger position as a swing producer – able to influence the price of oil by raising or lowering its production
SAUDI Aramco has worked hard for the past five years to bring crude oil production capacity up to 12.5 million barrels a day (mbpd) from 9.5 mbpd in 2005.
Channelling energies outside Saudi Arabia
China is now the third-largest buyer of Saudi crude after the US and Japan. Yet the Sino-Saudi relationship has become more than a pact between supplier and consumer
EARLIER this year, Saudi Arabia sent its first tanker of crude oil to a refinery in China’s southern province of Fujian. Though not particularly auspicious in terms of the global ebb and flow of crude, the cargo was hailed as a symbol of the increasingly important relationship between the two countries. Press releases were issued. Hands were shaken; photographs taken.
3-D virtualisations help secure important data
Saudi Aramco’s ESC is a collaborative environment that provides an integrated information centre for multi-disciplined engineering teams
TEAMS of engineers will be able to improve plant performance and reliability in Saudi Aramco’s new Engineering Solutions Centre (ESC).
Sustained drive to optimise business process pays off
During 2008, 66 additional competency maps were tailored for critical positions, and by year-end, 104 discipline-based competency maps were defined and assigned to 3,400 professionals. On the corporate level, Aramco launched a knowledge-sharing initiative
OPERATIONS is not the only area in which Saudi Aramco raised its performance in 2008. The company is continually looking for ways to improve the way it does business all across the enterprise.
Fuelling vigorous local development
Industrial cities such as Jubail receive fuel and feedstocks from Saudi Aramco and provide growth opportunities for domestic businesses and jobs for the kingdom’s citizens
IN THE domestic arena, Saudi Aramco is a key source of revenue for the state and by extension, Saudi society. It is also an important driver of industrial growth, economic development and diversification, and job creation.
Aramco, Conoco to award $6bn Yanbu refinery deals
Invitation for bid notices for the early work and major packages have been issued to prequalified local and international contractors. Early work packages are expected to be awarded in November 2009
SAUDI Aramco and ConocoPhillips have announced the re-launch of the bidding process for building a joint venture refinery at the Yanbu Industrial City, costing $6 billion.
An emblem of Saudi Arabia’s innovation and expertise
Hawiyah is a giant leap on a well-mapped course that will meet Saudi Arabia’s burgeoning gas demand. An integrated system of wells, a processing plant and distribution network, the Hawiyah Gas Programme opens new doors for the kingdom’s domestic development
THE Hawiyah Gas Plant is considered one of the largest gas plants in the world, and it is the first complete plant in Saudi Arabia able to process deep well gas which is non-associated with oil. Finishing this project four months before schedule is a major breakthrough for the Saudi master gas programme and a milestone for the Saudi industrial sector, especially in electrical power generation, water desalination and petrochemical production to which it supplies fuel and feedstock.
Saudi Jizan refinery project delayed due to economic crisis
Bidding had previously been pushed back from September 2008,
the fourth time they had been postponed
BIDDING for the construction of a new 400,000-barrels-per-day (bpd) refinery at Jizan, Saudi Arabia, has been pushed back to September due to the ongoing global financial crisis. The Red Sea-coast project was to begin bidding March 7, though the process has been pushed back numerous times from its original planned start date in second quarter 2007.
RTIP is charting clear-cut strategy
The proposed project is being explored by Saudi Aramco and Dow
Chemical operating under a memorandum of understanding
THE joint manufacturing programme team of the Ras Tanura Integrated Project (RTIP) shared the first phase of strategy development and 70 per cent of the organisation design at a gathering in the Dhahran Leadership Centre for a “Cold Eye Review.” The proposed project is being explored by Saudi Aramco and Dow Chemical operating under a memorandum of understanding. The team has been tasked with devising manufacturing strategies and organisational plans for RTIP.
Rich experience gained from the first intelligent oil field
The use of the I-Field concept has reduced field operational expenses as well as improving the overall well surveillance activities.The reservoir models are being updated in real time to enhance well placement, as well as to optimise existing well operational strategies
QATIF field is the first intelligent field (I-Field) in Saudi Aramco equipped with measurement, communication, control and software allowing real-time automated field management. The Qatif field is equipped with automated remote controls and surveillance systems due to its complex reservoir fluid characteristics, including high hydrogen sulphide (H2S) concentrations up to 16 per cent mole fraction.
Crude oil helps turn on the power and curb imports
Estimates on how much crude it is burning differ, but the kindgom’s own data show it has risen in recent years, and it could be as high as 470,000 barrels per day (bpd) of crude this year, up 62 per cent from 2008
SAUDI Arabia, the world’s top oil exporter, is burning more crude in domestic power plants to keep new wells pumping and produce cleaner electricity, likely eliminating demand for imported fuel this summer.
Finance crunch hits downstream plans
The drying up of project finance around the world is raising doubts over Saudi Arabia’s ability to deliver on its ambitious programme to increase refining capacity by 50 per cent
BANKERS say that refining projects are the first casualties hit by the freezing of the credit markets.
No need to develop Manifa now: Naimi
Saudi Aramco is assessing the project timing of the Manifa heavy oil project
SAUDI Arabian Minister of Petroleum and Mineral Reserves Ali Al Naimi said he sees no need now for the kingdom to develop its Manifa heavy oil field, which would add 900,000 barrels per day (bpd) of new capacity, saying the project could wait for demand to pick up again.
Aramco, Total reduce refinery costs, award 13 EPC deals
When completed, the export refinery will be one of the most advanced refineries in the world and will process Arabian Heavy crude into products that fulfil the most stringent specifications for meeting rising demand for environmentally friendly fuels
SAUDI Aramco and France’s Total have awarded 13 engineering, procurement and construction (EPC) contract packages for the 400,000 bpd Jubail refinery and reduced the project cost to $9.6 billion from earlier estimates above $10 billion.
Holistic approach ensures reliability over the long haul
This long-term approach to Aramco’s reserve base is also important because it will allow yet-to-be-developed production technologies to be applied to a greater proportion of the oil in place, and thus help to maximise ultimate recovery, meaning more oil for the future
SAUDI Aramco understands that the people of the kingdom and billions of people around the globe rely on it to remain a reliable supplier of petroleum now and far into the future.
Riyadh refinery gets important makeover
Comprehensive planning was required to ensure that the necessary shutdowns could be done safely
THIRTY-NINE days, 5,000 contractor employees, 1,000 regular employees, 800 pieces of equipment serviced and zero lost-time injuries. Those are some of the statistics for Riyadh Refinery Department’s (RRD) recent mega-test and inspection (T&I).
Highly skilled professionals tackle global challenges
Saudi Aramco has one of the largest corporate training and career development programmes in the world, the purpose of which is to ensure that the employees have the knowledge and skills they need as the company advances
PEOPLE remain Saudi Aramco’s most valuable asset. Its diverse work force of more than 54,000 employees represents more than 50 nationalities (about 15 per cent are expatriates) and brings a wide range of professional and technical disciplines together to meet the challenges of a global energy enterprise.
Gas plant to be built in Shaybah as part of 20-year masterplan
Development of the field will include facility with capacity to process 7.2 billion cu ft a day. Under the plans, a plant with six natural gas liquids (NGL) recovery trains will be built at the site between 2014 and 2033
ENERGY giant Saudi Aramco plans to build facilities capable of processing up to 7.2 billion cubic feet a day (bcfd) of gas under a 20-year masterplan to develop its Shaybah field in the Rub Al-Khali (Empty Quarter).
Ambitious EiOS spreading its wings beyond the region
Bahrain-based EiOS is focusing on exploring markets beyond the local arena and become a multi-national player, says chairman HUSSAIN TADAYON in an interview with KS SREEKUMAR
THE chairman of Eastern Industrial and Oilfields Services (EiOS), Hussain Tadayon has over half a century of rich experience in the oil industry, and knows all too well how to weather a storm.
Yokogawa leads the way in process control systems
Yokogawa is very optimistic about the forthcoming business opportunities in the region, AKIRA OGAWA, president and CEO of Yokogawa Saudi Arabia Company and Yokogawa Middle East tells K S SREEKUMAR
YOKOGAWA has established a solid presence in the Middle East region with its sales, engineering and servicing of industrial process instrumentation, distributed control systems, plant safety systems, plant information and management systems, Scada systems, and measuring and analytical instruments.
Aiming to be the top system integrator in the kingdom
The inauguration of Yokogawa’s new Yanbu office in June has strengthened its service capabilities in the Western region of
the kingdom, says TAKASHI SASAKI, president and CEO of Yokogawa Services Saudi Arabia Company
WITH the ambition to make Yokogawa Services Saudi Arabia one of the leading system integrators in Saudi Arabia in a time frame of two to three years and build it up as one of the leading project management and construction companies in the kingdom, Takashi Sasaki, president and CEO of Yokogawa Services Saudi Arabia Company thinks that “there is no royal road to success”.
Al Abdulkarim supports growth of GCC industrial infrastructure
Al Abdulkarim Holding Company (AKHC) has contributed to the tremendous growth of industrial infrastructure in the kingdom
and GCC countries by introducing advanced technology products and systems from its worldwide principals
AL ABDULKARIM Holding Company (AKHC), established over 30 years ago, enjoys a leadership position in the supply of electrical, communication, instrumentation, automation and control, piping, oilfield supplies and engineered systems and equipment.
Firms invited for Ras Tanura prequalification
Bids for the joint venture project are expected to be filed by the end of the first quarter of 2010
SAUDI Aramco and the US’ Dow Chemical Company have launched the first construction package on their $20 billion integrated oil and petrochemicals scheme at Ras Tanura, in the kingdom’s Eastern Province.
Exploration studies launched to find fresh reserves
Aramco has awarded three separate contracts to the local/Chinese BGP Arabia to gather seismic data to identify fresh
SAUDI Aramco is launching three major exploration studies to boost oil and gas output to meet increasing industrial demand in the kingdom.
Shell, Aramco hit gas at Kidan well in the Empty Quarter
Till recently, Srak – like all other exploration ventures in the Saudi Rub Al-Khali desert except perhaps the Lukoil-led Luksar venture – has been deeply unsuccessful in its efforts, while costs have rocketed to almost unimaginable levels
A ROYAL Dutch Shell and Saudi Aramco joint venture says that gas from two zones under exploration in the kingdom’s Empty Quarter flowed at a combined rate of 90 million cubic feet per day.
Bapco a solid partner in progress over the years
Throughout their histories, Bapco and Saudi Aramco have pioneered the development and use of innovation to expand their horizons and ensure these dynamic integrated oil companies meet the exacting needs of their local and international customers
BAHRAIN Petroleum Company (Bapco) and Saudi Aramco are inextricably linked through the proud historical ties which bind the two kingdoms, their people and their economies.
$133m yard to make Zamil Offshore a leading player
Besides shipbuilding and ship and rig repair, Zamil Offshore’s diversified marine businesses include the ownership and operation of the largest offshore support fleet, seaports operation and management and on-shore and offshore engineering and construction
A PROJECT to set up a modern shipbuilding and ship repair yard signals Saudi Arabia’s major step towards becoming a leading player in maritime offshore oil and gas industries.
New Eaton UPS helps protect business-critical processes
Eaton’s 9395 is an exceptionally reliable way to protect and secure critical business assets. The system’s two integrated uninterruptible power modules (UPMs) ensure continuous power supply to the device
THE Eaton 9395 UPS product family in Europe, the Middle East and Africa (EMEA) markets welcomed a new member in January – the new 825 kVA model.
IFC unveils coalescing filter
R-Series filters remove the solid particles and liquids from natural gas, vastly reducing or eliminating service to engines and turbines
SPARKSFILTERS has developed a new coalescing pipeline filter product (patent pending). This new R100 series filter is a horizontal pipeline filter with extended surface area vertical elements. Element service life has been extended tenfold and more. Complete service can be accomplished with a single ¾ inch adjustable wrench in less than 1.5 hours.
Palisade’s software right on the money for risk analysis
Palisade assists an increasing number of companies, including those in the oil and gas sector, to plan for the uncertainties inherent in everyday business life, writes Craig Ferri, managing director, Palisade Europe
THE front pages and editorials of newspapers and industry journals have now been talking extensively about risk for many months. From the risks posed by a drop – or rise – in the price of a barrel of oil, through to the unacceptable risks taken by investment fund managers, the casual observer could be forgiven for thinking that the human race has discovered a new concept.
ABB makes it six in a row
SAABB received the honour for its commitment to Saudisation and its
outstanding efforts in training Saudi technical students
ABB Saudi Arabia has bagged the top Saudi government award for the 6th consecutive year for its contribution in training and employing qualified Saudi nationals.
Attieh stronger than steel after 50 eventful years
Attieh Steel Limited (ASL) has grown into one of the largest players in the region, offering complete range of steel products and services with a turnover of SR5 billion ($1.33 billion) and sales of more than one million tonnes
One of Saudi Arabia’s major business success stories begins in the mid 1950s when Sheikh Ahmed Attieh established a steel fabrication workshop in Jeddah. Today, Attieh Steel Limited (ASL) has grown into one of the largest players in the region, offering a complete range of steel products and services with a turnover of SR5 billion ($1.33 billion) and sales of more than one million tonnes.
Taiwanese giant CTCI back with a bang in the Middle East
Years of hands-on experience and outstanding services, also underpinned by a pre-eminent workforce, stable financial status and sound managerial systems, has earned CTCI international goodwill, CTCI Arabia managing director CHANG KUO-YUAN tells OGN
TAIPEI-BASED CTCI Corporation, the largest engineering, procurement, and construction (EPC) firm in Taiwan, is spreading out in the Middle East from its operations hub located in Al Khobar.
R&D centre sets new standards
The objective of Aramco’s crude oil desulphurisation research project is to develop low-cost technologies to desulphurise crude oil and provide a new sweetened grade of crude
SAUDI Aramco’s research, technology development and deployment in surface upstream and downstream operations are undertaken by its Research and Development Centre (R&DC).
Care for community and environment
Lightening the environmental footprint of the oil industry is a priority for Aramco, and in 2008, it set new standards for protecting the air, water and land
SINCE its inception 75 years ago, Saudi Aramco’s social responsibility activities have evolved to match the development of the kingdom.
Stimulating development and prosperity at home, abroad
The year 2008 was marked by turbulence in the global economy and by volatility in the energy sector. In these uncertain times,
Saudi Aramco continued to be a rock of stability, providing the world with ample quantities of petroleum
SETTING new precedents for excellence is part of Saudi Aramco’s dual imperative to leverage the Saudi Arabia’s rich petroleum resources to stimulate progress and prosperity at home and around the globe, says Ali Al-Naimi, Minister of Petroleum and Mineral Resources and chairman of the Board of Directors, Saudi Aramco.
Largest crude increment is delivered at Khurais
The Khurais project was completed 10 months ahead of plan as a result of the teamwork, accelerated learning process, challenging objective setting, and continuous evaluation and application of new technology
THE Khurais project, located in the central region of Saudi Arabia near the capital, Riyadh, is the largest onshore oil development project in Saudi Arabia. Due to the large number of wells, one of the success measures of this project revolves around its expeditious completion and accelerated learning process. Specific innovative solutions were deployed to improve the well delivery performance, as well as to address the peculiar drilling challenges of the Khurais field. The combined impact of these innovations was a significant reduction in drilling time and cost.
Saudi’s Magnificent Five: the backbone of oil production
Ghawar helped catapult Saudi Arabia into its role as the world’s leading oil producer. The super-giant field is 280 kilometres in length and consists of five contiguous oil fields from north to south
GHAWAR remains the world’s largest oil field 70 years after its discovery. Its size and continuity were not initially apparent, but a series of early exploration wells, now called the Magnificent Five, put the pieces of the puzzle together.
Al Zamil Metal Works leads way in tank repair services
Al Zamil Metal Works Factory (AZMWF), the Saudi Arabia-based company, is breaking new ground in the
repair and refurbishment of tank foundation repairs with the use of the jacking system
AL ZAMIL Metal Works Factory (AZMWF) is one among the well known EPC contracting companies in Saudi Arabia with its vast experience in the field of construction and maintenance of storage tanks, pressure vessels and major steel structures.
StruPlant helps reduce the costs
AceCad has brought to the market StruPlant solutions that enable its customers to realise significant and practical gains in productivity, accuracy and interoperability
ENGINEERING, procurement and construction (EPC) in today’s competitive oil and gas industry, is very much a risk-averse, but high value marketplace. Traditionally, EPC companies place tight controls over the design and procurement of process and bulk equipment items.
Legal eagle offers expertise
Fahad Al-Suwaiket and Bader Al-Busaies Company (Al-Suwaiket and Al-Busaies) is the first legal company to provide its services in Al-Khobar, Eastern Province of Saudi Arabia
THE rapid growth of Saudi Arabia’s economy and the diverse activities carried out by both the government and the private sector has necessitated the establishment of specialised competent legal firms in Saudi Arabia.
Mega-projects secure future
Throughout its history, Saudi Aramco has never failed, due to operational reasons, to meet a delivery commitment to a customer. The company’s ability to bring its spare capacity on stream in response to market needs has been repeatedly proven over the years
SAUDI Aramco is a fully-integrated, global petroleum enterprise and a world leader in exploration and producing, refining, distribution, shipping and marketing.
Mini-refineries become a catalyst for success
The mini-refinery represents a huge investment in solving a wide variety of fuel-formulation challenges
WHEN one thinks about a refinery, a vision of an enormous metallic installation covering thousands of metres, pumping out thousands of barrels of refined product a day comes to mind. However, a much smaller type of refinery, which produces a mere barrel of refined product in a day, is running within the walls of the Research and Development Centre (R&DC).
Second plant in the Central Region starts production
Nuayyim is equipped with the latest smart-field technology, enabling operators to view a variety of relevant downhole and surface data and make adjustments from their control-room desks
OIL production is under way at the Nuayyim plant, bringing 100,000 barrels per day of Arabian Super Light in addition to 100 million standard cubic feet per day of associated gas.
Powering prosperity, enabling growth and offering security
Capital dislikes uncertainty, and indecision related to energy policies may serve to exacerbate the trend of underinvestment
– which is particularly dire in an extractive industry like petroleum, says Saudi Aramco president Khalid Al-Falih
THERE is plenty of oil in the market, and in some cases it appears to be storage capacity that is in short supply rather than the petroleum that goes into those tanks, says Khalid Al-Falih, Saudi Aramco president and chief executive officer.
Exports of Khurais oil soon, field not at full capacity
The project, which produces Arabian Light crude, takes the company’s production capacity to 12 mbpd. Khurais was already being factored into the company’s overall production capacity even though there was no immediate need to tap it fully
SAUDI Aramco has started commercial production from the 1.2 million barrels per day (mbpd) Khurais oil field and is ramping it up gradually with the first crude reaching Saudi ports for export, Saudi Aramco CEO Khalid Al-Falih says.
Gas production boost eyed at Karan field
Aramco confirms its award of a contract for offshore production facilities for the proposed Karan project
SAUDI Aramco is targeting a 50 per cent increase in its non-associated natural gas production to 9 billion cubic feet per day (bcfd) by 2015 to help meet rising domestic demand.
Kingdom provides 40pc of region's oil supplies
Saudi Arabia in 2008 consumed an estimated 19.98 per cent of the region’s gas, with its market share forecast at 17.96 per cent by 2013. It contributed an estimated 19.25 per cent to 2008 regional gas production
THE latest Saudi Arabia Oil and Gas Report forecasts that the country will account for 21.19 per cent of Middle Eastern (ME) regional oil demand by 2013, while providing a dominant 39.67 per cent of supply.
Gas feedstock network leads the way to self-sufficiency
The first MGS phase began operations in 1982, after tests in late 1981. It was then totally dependent on associated gas linked to oil production in a limited number of fields in the Eastern Province. That caused problems because of a fall in oil production
GAS plays a key role in Saudi Arabia’s industrialisation, thanks to Saudi Aramco’s master gas system (MGS) which was completed in 1981. Owned and operated by Saudi Aramco, the MGS made the kingdom self-sufficient in gas feedstocks for industry and fuel for electricity. It also made Saudi Aramco the world’s biggest exporter of gas liquids (LPGs & NGLs). But it had serious problems in the 1980s due to a fall in oil production.
DPL wins Satorp contract for Jubail Export Refinery
Dayim Punj Lloyd Construction Contracting Co (DPL) offers hi-tech total Engineering, Procurement and Construction (EPC) solutions
to oil and gas, hydrocarbon, chemicals and infrastructure sectors by drawing on the proven expertise of partner companies
DAYIM Punj Lloyd Construction Contracting Co (DPL) has recently secured a prestigious contract from Saudi Aramco Total Refining and Petrochemical Company (Satorp) for engineering, procurement and construction (EPC) of a Port Tank Farm, namely Package 9 of the Jubail Export Refinery Project (JERP9).
Burdock combines expertise with regional experience
Originally founded in 1991 as a Dutch engineering consultancy, Burdock has since evolved into an independent global consultancy and recruitment services provider for project and construction management companies
THE Netherlands-based Burdock is a dynamic, niche provider of technical expertise and advisory services to a wide range of industry sectors including oil and gas, petrochemicals, power generation, water, utilities, process, and civil and infrastructure works.
High technology helps Masabik forge ahead
Saudi-based Masabik builds quality into its products starting from purchasing raw material to final dispatch
MASABIK, previously known as NFC (National Foundries Company), has one of the largest and most advanced foundries in the region with fully computerised automatic (HWS) green sand moulding Holland line and two induction melting furnaces of 3 tonnes each.
Focus shifts to gas as oil expansion grinds to a halt
Annual gas demand in the world’s top oil exporter is growing at 7 per cent per year. Demand was around 7.5 billion cubic feet per day (bcfd) last year. Also there’s a real challenge to meet domestic market needs.
ARAMCO is shifting its exploration and production focus to gas to meet rapidly rising domestic demand as its programme to expand oil capacity comes to a close. Falling global oil consumption has left the kingdom sitting on its biggest supply cushion in years and allowed it to shift attention from oil to booming gas demand at home.
Gas becomes lifeblood of the kingdom's industrial network
Saudi Aramco is currently managing several major multi-billion dollar projects to boost natural gas processing capacity. When complete, these projects will increase its processing capacity for associated and non-associated gas
SAUDI Aramco is responsible for the development of the Saudi Aramco’s gas reserves, the fourth largest in the world, which stands at 263 trillion cubic feet. In 2008, daily gas production (raw gas to gas plants) averaged 8.3 standard cubic feet per day (bscfd).
Middle East rig numbers drop due to sharp fall in demand
As a whole, the Middle East’s rig count is likely to decline this year, with Saudi Aramco expected to slash its rig numbers by 20 per cent by the end of 2009. Aramco is committed to cutting its offshore fleet, in line with its commitment to reduce production
THE sharp deterioration in oil and gas demand resulting from the global economic downturn has triggered a steep drop in the number of drilling rigs in use at many of the world’s major hydrocarbons sites.
Fluctuating oil price denting petrochemical recovery
Though gas is the feedstock of choice for petrochecmical projects across the world, crude oil contines to dictate petrochemcial prices, and this trend is not likely to change in the near future, according to analysts
AFTER a roller-coaster ride in the last six months, growing demand for petrochemicals in Asia suggests the worst of the global economic downturn could be over for producers. However, the industry’s reliance on oil and gas as feedstocks for plants means costs – and therefore profit margins – are subject to price fluctuations in the global energy markets.
UK’s Bifold bucks the recession
The group is a leading manufacturer of a wide range of switching
instrument valves and pumps in the oil and gas sector
IN TURBULENT and economic times Bifold has continued to defy the global financial downturn and is continuing to expand, the group has been recognised as one of Britain’s private firms with the fastest growing profits and was featured in “The Sunday Times PricewaterhouseCoopers Profit Track Ones to Recognise” section.
Friulana Flange is expanding its sales in the oil-producing countries such as the Middle and Far East, in North Africa and also in Europe
SINCE 1984 Friulana Flange has been supplying, with passion and success, standard flanges of all types, classes and made of all grades of materials. Moreover, Friulana Flange produces rings for ski lifts and special productions for the industrial building field.