Saudi Aramco speeds up Manifa, eyes full output by 2015

phantom power

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Wed May-18-11 02:18 PM
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Saudi Aramco speeds up Manifa, eyes full output by 2015

KHOBAR, Saudi Arabia May 18 (Reuters) - State oil giant Saudi Aramco plans to accelerate the development of its 900,000 barrels-per-day (bpd) Manifa oilfield and reach full capacity by early 2015, an Aramco executive said on Wednesday.

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Aramco is undertaking the Manifa project, with a price tag close to $16 billion, to compensate for declines at other fields rather than to boost capacity.

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Aramco mothballed Manifa in 1985 because of the heaviness of its crude and decided to develop it in 2007 when global oil demand was soaring.

http://af.reuters.com/article/energyOilNews/idAFLDE74H0LK20110518?sp=true

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