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Oil & Gas

Aramco’s Manifa Oil Field Will Start in 2013

December 08, 2010
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According to Bloomberg, Saudi Arabia’s Manifa oil field is on schedule to start producing 500,000 barrels of oil a day in 2013 and state-owned producer Saudi Aramco is expanding natural gas output. Aramco is expanding refining output and natural gas production to meet rising domestic demand. Regional oil producers including Saudi Arabia and the United Arab Emirates are expanding industries like petrochemicals and steel to diversify economic growth away from crude exports and to provide jobs. Access to discounted feedstock gives Middle East-based producers a competitive advantage over rivals. Saudi Arabia, dependent on oil for 85 percent of its revenue, is embarking on two new petrochemical facilities Aramco aims to develop at the industrial city of Jubail on the state’s Persian Gulf coast. Aramco is developing a combined refinery and petrochemical facility with Total SA and is set to decide this year on plans for a plant with Dow Chemical Co.

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