Saudi Aramco Plans to Stay on Top

Tracing its roots to 1933, Saudi Aramco is now the world's largest petroleum exporter, holding about one-fourth of all global oil reserves.

Since the first well began to flow in 1938, Aramco has risen in the ranks and now produces and exports 8 million barrels of oil per day. This is more than twice the amount of the next highest producer. Now the company focuses on every area of the industry, from exploration to technology and innovations, shipping to refining.

Saudi Aramco can attribute its exploration successes to its systematic approach. The company maintains records of every exploration venture, even unsuccessful ones. In this way, even if a test well turns out to be a dry hole, Saudi Aramco learns from the information gathered to see if it can used in the future to help predict whether hydrocarbons are present or not.

Saudi Aramco's primary oil operations total more than 1.5 million square kilometers of territory, including offshore waters in the Red Sea and the Arabian Gulf. The company also exploits its extensive natural gas deposits in the face of gas as the fastest growing energy source worldwide.

One of Saudi Aramco's newest fields is the Khursaniyah field, where production started in April 2008. Peak production at the field is expected to be 500,000 barrels of oil per day -- that's 300,000 barrels per day within a month of production startup.

Through Vela International Marine Limited, Saudi Aramco maintains one of the world's largest fleets of crude carriers. Beginning in 1984 with four ships, the fleet has grown to 21 very large crude carriers and seven product vessels. Saudi Aramco also operates terminals that service more than 10 tankers per day, more than 9,000 per year. Every tanker undergoes stringent loading procedures to minimize the risk of spills.

As it strives to maintain its spot as No. 1 oil exporter, Saudi Aramco plans to invest $90 billion in production and refining over the next five years. Three additional field developments promise to boost production to 12.5 million barrels of oil per day by 2009.

For more information about Saudi Aramco and its latest projects, visit the company at OTC 2008 booth #4763.

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