Middle East

Saudi Aramco begins production at Moneefa

Doha: Saudi Aramco said that it began producing oil from the Moneefa Oil field six days ago, three months ahead of schedule.

Production rates can reach up to 500,000 barrels every day of Arab Heavy oil from next July and 900,000 when the oilfield hits full production by the end of 2014.

Moneefa’s addition means Saudi oil production is expected to increase 500,000 barrels a day to 13m barrels by July.  [16/04/13]

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