KHOBAR, Saud Arabia, Oct 13, SPA -- Saudi Aramco is embarking on major initiatives that will keep it in the top position as a reliable supplier of energy to the world, Abdullah S. Al-Saif, senior vice president of Exploration and Producing, told an audience of more than 450 professionals at the Society of Petroleum Engineers (SPE) Saudi Arabia Section's first dinner meeting of 2006-2007. Speaking on "The Call to Deliver: What Will It Take?" Al-Saif highlighted geopolitical tensions around the world and public misconceptions about the future of oil. He also spoke of the challenges associated with the development of new oil and gas facilities, and with maintaining production from mature and complex fields. "Saudi Aramco is significantly expanding its efforts to meet its part in global demand," he told the gathering of SPE members, Saudi Aramco and service-company leaders, professionals and students. "In the medium-term, the company will boost its production capacity to 12 million barrels a day by the end of 2009, through several new increments, namely Khursaniyah, Shaybah, Nuayyim, Khurais and Manifah," he said. "In the long run, the company will be embarking on major initiatives in exploration, delineation and R&D (research and development) programs that are poised to generate huge additions to its recoverable hydrocarbon resource base over the coming decades."
