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Saudi Arabia plans ‘significant growth’ in oil output in 2016 — Saudi Aramco

May 10, 11:35 UTC+3 MOSCOW
The plan is to boost capacity at the Shaybah oil field by 33% to 1 mln barrels per day in the next couple of weeks and to double natural gas production over the next decad
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© AP Photo/Bruce Stanley, File

MOSCOW, May 10. /TASS/. Saudi Arabia, which is the world’s biggest oil exporter, plans ‘significant growth’ in output in 2016 as well as further international expansion, chief executive officer of the country’s state-owned company Saudi Aramco Amin Nasser was quoted as saying by Bloomberg news agency Tuesday.

"Even though it is challenging, it’s still an opportunity for us to grow," Nasser said of the international expansion plans.

The plan is to boost capacity at the Shaybah oil field by 33% to 1 mln barrels per day in the next couple of weeks and to double natural gas production over the next decade, he said.

As was reported earlier Saudi Aramco can increase crude production to 10.3 mln barrels per day in 2016 versus the previously expected 10.2 mln barrels per day.

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