Saudi Arabia: Energy profile

Saudi Arabia, through its National Oil Company, Saudi Aramco, has announced an ambitious $70-billion energy investment plan, $18 billion of which will be directed toward increasing upstream petroleum capacity to an estimated 12.5 million bbl/d by 2009. Reserves

According to the Oil and Gas Journal, Saudi Arabia contains about 260 billion barrels of proven oil reserves (including 2.5 billion barrels in the Saudi-Kuwaiti Divided, or “Neutral” Zone), or around one-fifth of proven, conventional world oil reserves. Around two-thirds of Saudi reserves are considered “light” or “extra light” grades of oil, with the rest either “medium” or “heavy.”

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