Saudi Aramco achieved total hydrocarbon production of 12.3 million barrels of oil equivalent per day (mmboed) in the second quarter of 2024, the company said in its latest financial report.

In addition, exploration activities resulted in seven oil and gas discoveries in the Kingdom’s Eastern Province and Empty Quarter, consisting of two unconventional oil fields, one Arabian light oil reservoir, two natural gas fields, and two natural gas reservoirs.

The following projects continued to progress in support of maintaining maximum sustainable capacity at 12.0 million barrels per day (bpd) and preserving operational flexibility.

Ongoing projects include:

  • The Dammam development project, which is expected to add crude oil production of 25 million bpd later this year and 50 million bpd in 2027, progressed construction
  • The Marjan and Berri crude oil increments, which are expected to add production capacity of 300 million bpd and 250 million bpd, respectively, by 2025, continued with procurement and construction activities
  • The Zuluf crude oil increment, which is expected to provide a central facility to process 600 million bpd of crude oil from the Zuluf field by 2026, moved forward with engineering, procurement, and construction activities.

Aramco also announced new developments on the gas front during the quarter in support of its strategy of increasing natural gas production by more than 60 percent.

  • Design, procurement, and construction activities continued at the Jafurah Gas Plant, part of the Jafurah unconventional gas field development. Phase one is anticipated to commence production in 2025 and phase two is underway with the announcement of contract awards worth approximately 46.5 billion Saudi riyals ($12.4 billion).
  • Production from the Jafurah gas development is expected to reach a sustainable sales gas rate of 2.0 billion standard cubic feet per day (bscfd) by 2030, in addition to significant volumes of ethane, NGL, and condensate
  • The Tanajib Gas Plant, part of the Marjan development programme, continued with construction and procurement activities. The plant is expected to be onstream by 2025 and add 2.6 bscfd of additional processing capacity from the Marjan and Zuluf fields.
  • Hawiyah Unayzah Gas Reservoir Storage, the first underground natural gas storage in the Kingdom, commenced reproduction of stored gas into the master gas system (MGS). This reproduction flow can provide up to 2.0 bscfd of natural gas into the MGS based on demand.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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