Saudi Aramco sees rig fleet at 121 by year end

Saudi Arabia has nearly doubled its drilling rig fleet to 100 and aims to have 121 rigs by the end of the year as the world’s top oil exporter moves to boost its crude and gas output capacity, Aramco said yesterday.

It plans to complete by June 2007 its Khursaniyah project to add 500,000 bpd of Arabian Light crude, six months earlier than previously announced. Aramco has also speeded up its Khurais development project to add 1.2 million bpd by June 2009 in what the firm has called its biggest crude increment programme.

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