Saudi Arabia: Record 100 Oil Rigs Operating in Kingdom

Schlumberger – Saudi Arabia, the world’s biggest oil exporter, said Wednesday that a record 100 oil drilling rigs are now operating in the kingdom and that it expects to close 2006 with 121 in operation, state-run oil giant Saudi Aramco said Wednesday.

The flurry of drilling activity is all part of an ongoing $50 billion project by Saudi Arabia to boost oil production capacity in the kingdom over the next five years.

“By the end of the year, we expect to have 121 rigs in the field,” said Fahad Al Moosa, Aramco’s vice president of drilling and workover, in a posting on Aramco’s web site.
Schlumberger