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November 22, 2021updated 27 Apr 2022 12:15pm

Qatif Conventional Oil Field, Saudi Arabia

By Carmen

Qatif is a producing conventional oil field located onshore Saudi Arabia and is operated by Saudi Arabian Oil. The field is located in block Saudi Aramco Concession Area.

An expansion project is associated with the Qatif, namely Qatif Development. This project is currently in the feasibility stage.

Field participation details

The field is owned by Saudi Arabian Oil.


Production from Qatif

The Qatif conventional oil field recovered 80.10% of its total recoverable reserves, with peak production in 2004. The peak production was approximately 500 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2049. The field currently accounts for approximately 3% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 1,711.25 Mmboe, comprised of 1,711.25 Mmbbl of crude oil & condensate. Qatif conventional oil field reserves accounts 0.37% of total remaining reserves of producing conventional oil fields globally.


About Saudi Arabian Oil

Saudi Arabian Oil Co (Saudi Aramco) is a state owned energy and chemical company. It carries out the exploration, production and processing of crude oil and natural gas, refining, fractionation of natural gas, production of petrochemicals, and distribution of petroleum products and natural gas. The company operates wholly-owned domestic refineries, and has interests in joint venture refineries with international partners. Saudi Aramco operates through a network of pipelines, bulk plants, air refueling sites and terminals. The company also operates power plants and associated transmission and distribution facilities in the Kingdom of Saudi Arabia. The company has subsidiaries and joint ventures across the Americas, Europe and other regions. Saudi Aramco is headquartered in Dhahran, Eastern Province, Saudi Arabia.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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