Technological Advances to Quench Thirst for Oil

Oil markets are in turmoil, admits Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi in an interview in New York. With Saudi Arabia currently accounting for almost one-fifth of global crude exports and analysts expecting it to meet a quarter of the world’s increasing crude thirst in the near future, the global dependence on Saudi Arabia is set to go up. As the only producer with significant excess capacity, the Kingdom has played a crucial role in alleviating temporary supply disruptions and crises. The Kingdom upped its daily production by 3.1 million barrels during the first Gulf War, for example, when oil production in Iraq and Kuwait dropped by 5.3 million barrels. It was crucial in balancing the global markets then. With geopolitics occupying center stage, the Saudi role would stay crucial to the global well-being.

The Ghawar oil field is the Kingdom’s crown jewel – the center piece of Saudi crude exports. Being the world’s largest oil field with roughly 5 million barrels of daily output, it holds an unparalleled significance to future global oil supplies. Stretching for more than 150 miles beneath the desert, it is the largest known deposit in the world. It produces twice as much oil than any other fields in the super-giant category, and has doubtlessly accounted for more than half of Saudi Arabia’s oil production.


Industry stalwarts have been saying for years that new technological advances would keep the world well oiled.

Nansen Saleri, former head of reservoir management for Saudi Aramco, who now heads the Quantum Reservoir Impact, points to recent technological advances in quenching the global thirst.

Referring to the available technology adopted by Aramco while developing the Haradh oil field, the southernmost portion of the giant Ghawar complex, as unique and a model for future developments, Saleri terms them as a launching pad for a new era in reservoir management.

Against a backdrop of many international upstream projects straining to achieve their target production levels and intended plateaus, Haradh III reached its planned production capacity of 300,000 barrels per day well ahead of schedule, and the field’s performance more than 18 months since its start-up exceeds virtually all pre-project goals.

MENAFN