Thursday, February 12, 2009

New Saudi Blood to Double Spare Capacity

The Tiger Woods of oil giants is proving ever more that she's still in her prime, that she still has magic buried in the depths of those enormous fields (the Ghawar Oil Field takes eight hours to drive around!).

The mighty oil titan reports it will more than double spare capacity to 4.5 mbpd by the middle of this year. This will be achieved by bringing the Khurais project online, which will add 1.2 mbpd to reserve capacity. The article can be read here.

Saudi's target spare capacity for this is 1.5-2.0 mbpd.

- Brewskie

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