Saudi Wants To Up Reserves by a Quarter

May 2006 | Company News Alert

Saudi Arabia hopes to boost its already impressive oil reserves by 25% within the next two decades, up from a current 264bn barrels of proven oil reserves, by speeding up its exploration activities over the short-term. At the same time, the oil rich Gulf kingdom plans to boost oil production capacity to 12.5mn b/d by the end of the decade, with national oil firm Aramco set to pour over US$14bn in investment into the energy sector as the Saudi economy booms.

If you would like to subscribe to Middle East & Africa Oil and Gas Insight and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Middle East & Africa Oil and Gas Insight please click on the trial link below.