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Saudi Aramco nears decision phase on expansion of world's largest offshore oilfield - Upstream Online

Upstream Online · last updated

Saudi Aramco nears decision phase on expansion of world’s largest offshore oilfield | Upstream Online

Saudi Aramco is close to deciding on at least nine offshore engineering, procurement, construction and installation contracts for the expansion of its giant Safaniyah oilfield.

The new expansion phase at the largest offshore oilfield in the world is crucial to Aramco’s ambition to increase its oil production capacity to 13 million barrels per day by 2027, up from the existing...

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Related Knowledge Center: ENERGY BASICS: petroleum

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While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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