(MENAFN- Saudi Press Agency)
The Company will maintain its position as the world's leading crude oil producer by production volume by tempering production from mature fields, accelerating younger fields and secondary reservoirs, and developing fresh reserves from new increments, while diversifying operations to capture value from strategic integration and expand natural gas activities.
The company produced an average of 10.2 million barrels per day (bpd) of crude oil, including condensate. Total raw gas processing averaged 12.4 billion standard cubic feet per day (scfd). The company discovered two new oil fields (Sakab southeast of Haradh and Zumul in the Rub' al-Khali) and a gas reservoir (Jauf, in the Sahba field), and continued its program to increase the capacity of the Khurais field by 300,000 bpd in 2018.
The company continued its efforts to increase domestic gas supplies, providing additional feedstock to drive industrial utilities expansion and improve national energy efficiency, while making more crude oil available for export. Major project achievements included readying the Midyan non-associated gas field to produce 75 million scfd of natural gas and 4,500 bpd of condensate, displacing liquid fuels for use in power generation, and progress on the Fadhili Gas Plant designed to process up to 2.5 billion scfd of raw gas, a component in raising the company's overall gas processing capacity.
Additional programs to expand capacity included the Hawiyah Gas Plant's new processing facilities, which are expected to come on-stream in 2021, and add more than 1.1 billion scfd of processing capacity for a total of approximately 3.6 billion scfd. The company started engineering, procurement and construction of a natural gas liquids deep recovery train at the Uthmaniyah Gas Plant that will recover ethane and other NGLs from natural gas produced from the Uthmaniyah Gas Plant and the Hawiyah Gas Plant expansion.
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20:05 LOCAL TIME 17:05 GMT
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