Saudi Arabian Oil Co. increased output from its offshore Karan natural-gas deposit and expects to reach full capacity this summer, a year ahead of schedule, Chief Executive Officer Khalid al-Falih said.
The state oil company said in July last year that Karan would reach full capacity of 1.8 million barrels a day in 2013, and would feed into the Khursaniyah processing plant. Saudi Aramco, as the company is known, originally aimed to produce 1.5 billion cubic feet a day by June this year, according to the Dhahran-based company’s 2010 annual review.
Aramco is accelerating work at the project as demand for gas in Saudi Arabia grows rapidly. With electricity consumption rising by about 8 percent a year, the country wants to produce more gas to run power plants and save valuable oil for exports.
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