Saudi Aramco has advanced multiple gas projects during the quarter in line with its strategic priority to meet the growing domestic gas demand.
Aramco’s Hawiyah Gas Plant expansion, which is part of the Haradh gas increment program, has progressed with its commissioning activities and is expected to begin operations this year, Aramco noted in its first quarter 2023 results report.
Additionally, Aramco said that the compression projects at the Haradh and Hawiyah fields continued to make progress related to commissioning activities, with both initial production and full capacity expected to be achieved during the current year.
Hawiyah Gas Plant (HGP) expansion project is expected to provide additional gas processing facilities to process 1,070 MMcf/d of raw sweet gas, installing a pipeline network to allow free flowing 290 MMcf/d from Haradh field to Hawiyah gas plant.
On Tuesday, Saudi oil giant Aramco reported a first-quarter net profit of $31.88 billion, plummeting by 19% compared to the same period last year. Aramco said the drop was mainly driven by lower crude prices, although partially offset by lower taxes and Zakat and a rise in finance and other income.
The Saudi oil giant recorded production totaling 12.8 million barrels of oil per day during the first quarter. Despite the decline in global crude oil prices, Aramco said it is
“well positioned to withstand fluctuating commodity prices through its low-cost upstream production and strategically integrated downstream operations.”
