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nth
Light Sweet Crude
Joined: Feb 24, 2005
Posts: 1976
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 Posted: Mon Jun 23, 2008 4:14 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| TheDude wrote: |
Most of those extra fields are pretty modest in URR. The big fields they're bringing online now have been mothballed for good reasons; Manifa was discovered in 1957 but never developed because it's heavy and full of vanadium and H2S. High prices can make them economical now but whether their customers can afford them long term is the big question.
Forget how many wells KSA are up to now; perhaps they will emulate the post peak US and drill hundreds of thousands of holes to try and keep on the treadmill. Whether this will keep them on the up and up also remains to be seen. |
They don't have anymore mega fields. I think the stats are like 8 fields make up the overwhelming amount of SA production. Just one field Ghawar makes up to 5mbpd out of the 9+mbpd they are currently producing. The exploration program in the Empty Quarter has been a big disappointment. |
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1421
Location: Seattle
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| Posted: Wed Jun 25, 2008 12:00 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| OilFinder2 wrote: | | I have a sneaking suspicion that much of the oil from these heavier oil fields they will refine themselves and sell the finished gasoline instead. |
Damn I'm good.  Just saw this today.
--> LINK <--
| Quote: | Saudi Aramco and Total Sign Agreements to Establish New JV
Posted on: Tuesday, 24 June 2008, 02:30 CDT
Saudi Aramco and French integrated oil major Total have signed the shareholders agreement and other core agreements for the establishment of their joint venture, the Jubail Refining and Petrochemical Company.
The 400,000 barrel-per-day Jubail refinery will process Arabian heavy crude to highquality refined products that will meet the most stringent global product specifications and is expected to begin operations at the end of 2012.
As a full-conversion unit, the refinery is expected to maximize the production of diesel and jet fuels. In addition, the project will produce 700,000 tons per year (tpy) of paraxylene, 140,000tpy of benzene and 200,000tpy of polymer-grade propylene.
The refinery will benefit from its proximity to the Arabian heavy crude supply system and from the facilities of the Jubail Industrial City, including power and water grids.
[...] |
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Chuckmak
Intermediate Crude
Joined: Mar 19, 2005
Posts: 858
Location: Bridge City
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| Posted: Wed Jun 25, 2008 11:59 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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it's about the only prediction you've gotten right so far
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nth
Light Sweet Crude
Joined: Feb 24, 2005
Posts: 1976
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| Posted: Wed Jun 25, 2008 2:45 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| KevO wrote: | | nth wrote: |
No wonder many experts believe Saudi's can sustain 12mbpd for a few decades. |
If this is true, the truth is the Earth can't handle anymore emissions.
It HAS to stop. Oil use that is.
period |
We need stop using Coal first before we tackle oil if you want to prioritize about global warming. |
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misterno
Heavy Crude
Joined: Mar 07, 2007
Posts: 318
Location: Houston, TX
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| Posted: Wed Jun 25, 2008 8:18 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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that is right
But coal is more and more used to generate power
What a dilemma |
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Graeme
Fission
Joined: Mar 04, 2005
Posts: 2765
Location: New Zealand
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| Posted: Fri Oct 24, 2008 6:50 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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Khurais Oil Field on Stream in Mid-2009
| Quote: | Saudi Arabia will bring on stream its 1.2 million barrel a day Khurais oil field development in mid-2009, the country's oil minister Ali Naimi said Friday.
"Come June 2009 and you will see Khurais (oil field) on stream," Naimi said, speaking after agreeing with fellow OPEC members to cut the group's crude output by 1.5 million barrels a day to stem a decline in oil prices.
Naimi said the 500,000-barrel a day Khursaniyah oil field, which was originally due to start pumping crude at the end of 2007, was now on stream.
State-run Saudi Arabian Oil Co., known as Saudi Aramco, is also working on plans to develop and add capacity at other oil fields including at the onshore Nuayyim and Shaybah fields, and at the large-scale Manifa heavy oil field. |
rigzone
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Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us. |
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1421
Location: Seattle
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| Posted: Fri Oct 24, 2008 9:53 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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Thanks for the update Graeme.
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threadbear
Expert
Joined: Jan 22, 2005
Posts: 7783
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| Posted: Fri Oct 24, 2008 10:30 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| DantesPeak wrote: |
The financial system, and more broadly capatalism, can not effectively deal with the transition from liquid fuels to other fuels at this point in history.
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Sure it can, and an economic downturn, where usage declines significantly, is a perfect atmosphere to do it in. Can't be done quickly enough? There are billions, trillions sitting in money market funds, gathering dust, while millions in a potential labour pool, lose their jobs. Plus, a CAN DO guy is about to be elected president. He knows that the US is no longer able to bomb it's way to economic salvation so get ready to embark on an amazing program to get the alternative energy ball rolling. |
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RSFB
Heavy Crude
Joined: Aug 03, 2008
Posts: 297
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| Posted: Sat Oct 25, 2008 4:43 am Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| So they need this new field even though they're cutting production? I can't see that as good news. |
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Twilight
Expert
Joined: Mar 02, 2007
Posts: 3076
Location: UK
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| Posted: Sat Oct 25, 2008 12:38 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| RSFB wrote: | | So they need this new field even though they're cutting production? I can't see that as good news. |
To help take the strain off existing ones, maybe?
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1421
Location: Seattle
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| Posted: Sat Oct 25, 2008 6:47 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| RSFB wrote: | | So they need this new field even though they're cutting production? I can't see that as good news. |
They started planning this project and building it long before the current oil downturn struck. This has been in the works for years.
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RSFB
Heavy Crude
Joined: Aug 03, 2008
Posts: 297
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| Posted: Sat Oct 25, 2008 6:49 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| OilFinder2 wrote: | | RSFB wrote: | | So they need this new field even though they're cutting production? I can't see that as good news. |
They started planning this project and building it long before the current oil downturn struck. This has been in the works for years. |
Sure, but apparently they're keeping their plans to start production there. I assume they aren't planning to increase total production when they start using this field.
If other fields weren't declining or strained (as Twilight suggested), they'd better just delay production there, wouldn't they? |
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1421
Location: Seattle
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| Posted: Sat Oct 25, 2008 6:52 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| RSFB wrote: | | OilFinder2 wrote: | | RSFB wrote: | | So they need this new field even though they're cutting production? I can't see that as good news. |
They started planning this project and building it long before the current oil downturn struck. This has been in the works for years. |
Sure, but apparently they're keeping their plans to start production there. I assume they aren't planning to increase total production when they start using this field. |
Probably so. But the project was so far along when the oil crash hit there was probably no point in stopping it. If you were 95% done with a multi-billion dollar project when suddenly the market for your project crashed, would you stop it with only another 5% to go? I wouldn't. Might as well finish it. The market for it will likely return later, at which point the project will be ready-to-go.
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RSFB
Heavy Crude
Joined: Aug 03, 2008
Posts: 297
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| Posted: Sat Oct 25, 2008 6:56 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| OilFinder2 wrote: |
Probably so. But the project was so far along when the oil crash hit there was probably no point in stopping it. If you were 95% done with a multi-billion dollar project when suddenly the market for your project crashed, would you stop it with only another 5% to go? I wouldn't. Might as well finish it. The market for it will likely return later, at which point the project will be ready-to-go. |
I'm referring to this quote:
| Quote: | | "Come June 2009 and you will see Khurais (oil field) on stream," Naimi said, speaking after agreeing with fellow OPEC members to cut the group's crude output by 1.5 million barrels a day to stem a decline in oil prices. |
I assumed this means they're still intending to not only finish the project, but start production as well. |
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OilFinder2
Light Sweet Crude
Joined: Mar 26, 2008
Posts: 1421
Location: Seattle
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| Posted: Sat Oct 25, 2008 6:59 pm Post subject: Re: Saudi Arabia's Khurais Oilfield to Start Next Year |
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| RSFB wrote: | | OilFinder2 wrote: |
Probably so. But the project was so far along when the oil crash hit there was probably no point in stopping it. If you were 95% done with a multi-billion dollar project when suddenly the market for your project crashed, would you stop it with only another 5% to go? I wouldn't. Might as well finish it. The market for it will likely return later, at which point the project will be ready-to-go. |
I'm referring to this quote:
| Quote: | | "Come June 2009 and you will see Khurais (oil field) on stream," Naimi said, speaking after agreeing with fellow OPEC members to cut the group's crude output by 1.5 million barrels a day to stem a decline in oil prices. |
I assumed this means they're still intending to not only finish the project, but start production as well. |
Oh I see.
Perhaps they're anticipating a recovery in the market by then? Or, perhaps it will be "on-stream" but they won't pump at maximum production levels? Naimi's statement could mean several things. We'll have to wait and see what happens, I suppose.
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