Overview                                                                                          

Saudi Aramco, the world’s largest and lowest- cost oil producer, has a daily average output of crude oil of 8.9 million barrels and 8.22 billion cubic feet of gas per day.   Saudi Aramco’s proven recoverable crude oil and condensate reserves are 259.9 billion barrels.  Its gas reserves are estimated at 248.5 trillion trillion cubic feet.  

By the end of 2009, Saudi Aramco’s production capacity will reach 12 million barrels per day.  Industry sources confirmed that by 2009, five major projects valued at $18 billion dollars to increase crude oil production (2.7– 3.05 million b/d), and double its refining size would be completed.

Saudi Aramco is also expanding the capacity of its Master Gas System, the largest natural gas network of its kind.  Although Saudi Aramco is producing and processing gas to power the development and diversification of Saudi Arabia’s economy, these operations do have a positive international impact.  By using gas as the primary fuel and feedstock for domestic industries and utilities, Saudi Aramco is able to redirect crude oil to international markets, helping to meet growing worldwide demand even as it continues to fulfill Saudi Arabia’s domestic obligations.

Recently, Saudi Aramco awarded four oil refinery projects worth a total of $23 billion, for the Rabigh integrated refinery, Yanbu-ConocoPhilips project, Jubai-Total refinery, and Ras Tanura integrated refinery.

Industry sources estimate the total value of Saudi Aramco’s planned projects for the next 20 years to be around $80 billion dollars.

Data on potential market size data are extremely difficult to estimate, as the Saudi oil industry is experiencing a major boom.  Revenues have grown significantly with the increased global price for crude oil and the industry is re-investing in expanding output and in utilizing the most advanced exploration, reservoir management and enhanced recovery technology.

Best Products/Services                                                                

The aforementioned projects throughout Saudi Arabia will generate a demand over the next three years in the hundreds of millions of US dollars in Saudi Arabia for high quality oil and gas industry related products and supplies.   

There include; oil and gas field drilling machinery and equipment, casing, pipes, pipe fitting, valves, power generation equipment, drilling chemicals, pumps, heat exchangers, gas compressors, tower coolers, instruments and controls, anti-corrosion systems, laboratory equipment, marine equipment and services, offshore platforms, filtration systems, pressure vessels, storage systems, treatment systems, injection equipment and services, production equipment and services, well control systems, packing, seals, gaskets, bearings, rope, wire rope and chain, safety and environmental protection services, pollution and spill control services, tools, flexible pipe, valves & actuators, wellhead valves, and thousands of other items related to the oil and gas industry. 

Saudi Aramco and its various Saudi contractors are extremely receptive to US products.

For more information please contact:

Ahmad Malas at ahmad.malas@mail.doc.gov in Dhahran
Yousef Daqqaq at yousef.daqqaq@mail.doc.gov in Jeddah
Habeeb Saeed at habeeb.saeed@mail.doc.gov in Riyadh