Riyadh: Saudi Arabian Oil Co, known internationally as Saudi Aramco, has announced plans to raise Khurais oil field’s production in the coming two months, CEO and president Amin H. Nasser said.
Khurais’ output will increase to 1.5 million barrels per day (bpds) from 1.2 million bpds, Nasser added.
The CEO further indicated that the world's largest oil producer will inaugurate Fadhili oil field during 2019.
Aramco revealed plans to Saudise industries in the oil-rich kingdom after nationalisation rate exceeded 50%, targeting boosting Saudisation to 70% by 2021.
Earlier on Monday, Aramco said that its subsidiary, Aramco Trading Company forecast that its oil trade will grow by six million bpd in 2020.
On Thursday, 20 September, the largest international oil firm announced collaboration with major international auto manufacturers to conduct research programmes for developing new engines and fuel.