Saudi Arabia’s oil giant Saudi Aramco reportedly plans to double its gas production in ten years and is considering overseas opportunities.
The Wall Street Journal cited Saudi Aramco chief executive Amin Nasser as saying that the existing current crude market is challenging and the company is still looking at growth opportunities.
Earlier in 2016, Nasser said that the company was planning to increase its gas output to 23 billion standard cubic feet per day from around 12 billion cubic feet a day.
Joint ventures are also planned across the globe in Indonesia, India, the US, Vietnam and China.
The company’s current refining capacity is around 5.4 million barrels a day, which is proposed to be increased to eight to ten million barrels a day.
Reuters quoted Nasser as saying that until that date, the maximum sustainable output capacity of Saudi Aramco stands at 12 million barrels per day.
The company’s Khurais oilfield expansion is also expected during 2018.
Saudi Aramco upstream operations senior vice-president Mohammed al-Qahtani said that the company is expected to operate between 211 and 214 oil and gas drilling rigs in 2016.
The company has a total workforce of 61,907.
