Saudi Arabia’s oil production is down compared with 2008, Saudi Aramco chief executive Khalid al Falih has been reported as saying.
Falih said oil drilling for production has declined, although exploration activities are increasing, reported the Asharq al Awsat newspaper.
Saudi Arabia pumped 8.22 million barrels per day in February, a Reuters survey showed.
Falih said: “Oil drilling activities for production declined, unlike exploration activities that are rising.”
Overall drilling for oil this year is expected to remain the same as last year but Aramco would increase gas drilling activities, industry sources said this week.
Last week Saudi Aramco announced a new gas find in the Jalamid area, which can be commercially exploited. Test showed the discovery well in al Sannara reservoir flowed at 12.1 million cubic feet per day (cfd).
“The Jalamid field will be an important indication on how much gas can be produced from the northern area…the field will boost prospects of gas production,” Falih said.
