Watch what they do, not what they say. What shell is the pea under?
Next month, they will say "Sept". Every month or so, they have been pushing it back. It's an old field being reworked, and I think it is starting out with a water cut of 45%. In the meantime, their largest field has been depleting at 8% for a year or more; 400K BPD less last year, an additional 370 K BPD this year, another 336K next year.That's a net loss of 1.1 M BPD in 3 years, which is the same amount Mexico's Cantarell has decreased since 12/05; smaller reservoir, depleting at 26%/yr.
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Aramco sets Khursaniyah date
News wires
Saudi Aramco is set to bring the Khursaniyah oilfield project - capable of pumping 500,000 barrels per day - on stream in August, Amin Nasser, the senior vice president of exploration and producution at the Saudi Arabian company, said today.
The Khursaniyah project involves production facilities for the onshore Abu Hadriya, Fadhili and Khursaniyah fields near Jubail Industrial City in the Eastern Province,.
Last month, an Aramco official told Reuters large parts of the project were ready. Saudi Aramco had planned to bring Khursaniyah online in December last year.
upstreamonline.com |
