Saudi Aramco's Manifa Oil Field On Stream Ahead of Schedule

State-oil giant Saudi Arabian Oil Co., known as Saudi Aramco, said Monday it has started production at its vast Manifa oil field three months ahead of schedule.

Output at Manifa is expected to reach 500,000 barrels a day in July, which will gradually increase to 900,000 barrels a day by the end of 2014, Aramco said in an emailed statement.

Aramco has previously said that the field will have an initial capacity of 500,000 barrels a day of crude in the first half of 2013.

Crude from Manifa will feed refineries in the kingdom that are currently under construction. One is being built under a joint venture with France's Total SA and another with China's Sinopec.

Saudi Aramco, fully owned by the Kingdom of Saudi Arabia, is one of the largest oil and gas companies in the world, with activities in exploration, production, refining, distribution, shipping and marketing.

It plans to invest $35 billion over the next five years in crude oil exploration and development in a bid to keep its oil production portfolio robust, Chief Executive Khalid al-Falih has said.

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Production Comes On Stream at Everest East

BG Group announced Monday first production from its Everest East expansion project in the UK North Sea. Everest East is the second of seven projects BG plans to bring on stream in 2013, the company confirmed.

The Everest East expansion comprises two sub-sea wells tied back to the North Everest platform and brownfield modifications to the existing production system. BG expects that the project will provide initial peak production of more than 10,000 barrels of oil equivalent (boe) per day with total gross reserves of 20.6 million boe.

BG Group Chief Executive Chris Finlayson commented in a company statement:

"With first production from the Everest East expansion in the UK North Sea, following the second floating production, storage and offloading (FPSO) vessel coming on stream offshore Brazil in January and the recent restart of Elgin/Franklin, we have now achieved the key production milestones we set for the first quarter of 2013."

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Production Comes On Stream at Everest East

BG Group announced Monday first production from its Everest East expansion project in the UK North Sea. Everest East is the second of seven projects BG plans to bring on stream in 2013, the company confirmed.

The Everest East expansion comprises two sub-sea wells tied back to the North Everest platform and brownfield modifications to the existing production system. BG expects that the project will provide initial peak production of more than 10,000 barrels of oil equivalent (boe) per day with total gross reserves of 20.6 million boe.

BG Group Chief Executive Chris Finlayson commented in a company statement:

"With first production from the Everest East expansion in the UK North Sea, following the second floating production, storage and offloading (FPSO) vessel coming on stream offshore Brazil in January and the recent restart of Elgin/Franklin, we have now achieved the key production milestones we set for the first quarter of 2013."

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here