Saudi Arabia’s Khurais Oilfield to Start Next Year

Saudi Arabia expects work to expand the Khurais oil field to be completed by mid-2009, boosting the country’s production capacity by 1.2 million barrels a day, the state-run Saudi Press Agency reported.

Oil consumers and producers are due to meet June 22 in Jeddah, Saudi Arabia, to discuss how to stabilize soaring crude prices. The Saudi government will organize a trip to the Khurais field during the summit, the news service said, describing the project as “one of the biggest” for the global oil industry.

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