Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Saudi targets 100 billion barrels

    Saudi targets 100 billion barrels

    March 7, 2012
    Share
    Facebook Twitter LinkedIn WhatsApp

    07 March 2012, Sweetcrude, HOUSTON – Saudi Aramco is hoping to find at least 100 billion barrels of hydrocarbon resources in a new exploration push.

    The Saudi Arabia’s national oil company said it will employ new technologies to find and extract the oil.

    According to the company’s vice president for upstream operations, Amin Nasser, the company also expects to increase its natural gas production by 40% by 2014.

    Nasser told the CeraWeek conference in Houston that to enable it do this,the company is looking to frontier areas in the deep and shallow waters of the Red Sea.

    He said shallow-water exploration has already begun while deep-water operations would begin by the end of this year.

    He said new technology will play a major role in Aramco’s exploration and production push, which will also involve development of Saudi Arabia’s “huge” unconventional gas resources.

    The company is already starting to employ nanotechnology for “reservoir sensing” and other geophysical evaluations, Naser said.

    Only a few years ago, Aramco considered this a “blue sky target”, but the technology has now been taken “from the lab to the field” and is being used for things like “smart sensing”, he said.

    Aramco will also look to enhanced drilling techniques like “smart water flooding” to improve production rates. These technologies will allow the company to extract 70% of the oil from existing fields, up from 50% currently, Nasser said.

    Related News

    Oil prices ease as traders assess US tariffs and OPEC+ output boost

    Exxon Mobil finds natural gas reservoir offshore Cyprus, government says

    Chevron preps quick closing of Hess deal and awaits result of Exxon dispute

    E-book
    Resilience Exhibition

    Latest News

    AEC condemns Greenpeace for ‘calculated attacks’ to hinder energy development

    July 8, 2025

    Ghana launches task force to curb gold smuggling losses

    July 8, 2025

    Oil prices ease as traders assess US tariffs and OPEC+ output boost

    July 8, 2025

    Rivers Govt warns residents of imminent flood risk

    July 8, 2025

    Oil sector rebounds as stakeholders push reforms, increased production at NOG2025

    July 8, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.