heading Arabia, the largest oil exporter in the world, to increase the oil platforms by 30 percent for «strengthening the productive capacity», as announced, an analyst at «Simmons & Co.» Bill Herbert.
The Herbert in a research note that «the national oil company giant« Saudi Aramco »met with companies in oil services leader, including« Halliburton »weekend, and unveiled plans to increase the number of platforms operating in the country this year and next to 118 the platform of about 92 now».
He said in a telephone statement from Houston in the United States: «It was expected that Saudi Arabia is making carefully at the level of production capacity. So, this is not expected ... Furthermore dangers in the Middle East increased. With the decline in production Libyan Arabia might feel the need to power higher productivity ». He added: «Saudi Arabia wants to increase the number of platforms quickly in the second half of this year and the first half of next year, and shake the dust off Manifa project, which will produce 900 thousand barrels per day, but is proceeding slowly, and an investment value of $ 16 billion». He continued: «plans clearly positive for the oil service companies» by shares rose strongly on Monday.
Rose «Halliburton» 4 percent to 47.90 dollars in New York Stock Exchange after it hit its highest level in 52 weeks, shares «Schlumberger» more than 4 percent, while shares rose Baker «Hughes» 3.8 percent.
And has announced «Halliburton» in the small hours on Monday night, it will speed up the work in the «Moneefa», a project to exploit the extensive marine reserves of heavy crude, following discussions held recently with Saudi Arabia. The company in 2008 won a contract to provide drilling services and related work in 93 wells in the Manifa north-east of Saudi Arabia.
The analyst at the Conference «Howard Weil» Oil in New Orleans, in a statement to agency «Reuters», that «Andrew Gould, CEO of Schlumberger families to analysts on Monday that he encourages the commitment of Saudi Arabia to increase spare capacity, regardless of any decline in prices oil ».
And more than any other country, Saudi Arabia sets its international role as the ability to increase oil production quickly to meet growing demand or to cover disruptions in other regions such as the collapse of the Libyan shipments in recent times. Saudi Arabia responded by pumping 500 thousand barrels to 750 thousand barrels more per day in recent weeks, according to analysts.
He said oil analyst at «Cameron Hanover» Peter Beutel, in Connecticut: «It is an existential issue for Saudi Arabia. Should ensure the availability of untapped energy is sufficient, but reduced role in the world ». But it is not yet clear, if you want to increase spare capacity for more than 3 million barrels per day, a level which is said to be «Aramco» owned.
Experts felt that the increased production of Saudi Arabia recently to about nine million barrels a day, perhaps, alarming «Aramco» regarding their ability to increase pumping if the world needs to much larger quantities.
The Managing Director of «Morgan Keegan» in Houston, Roger Reid, who drew that Saudi Arabia «was produced earlier this year about 8.5 million barrels per day remain, including about 3.5 million barrels per day untapped. Had to increase production between 500 thousand and 750 thousand barrels per day after Libya's exit from the market, and then the spare capacity is already too low ».
According to the analyst in the oil sector in New York and a resident of Saudi Arabia, provision, on condition of anonymity: that «is seen as one of two ways. Either they know that three million barrels per day of spare capacity is not enough or they realize that their energy is not so high in fact ».
There was no public debate about Saudi Arabia plans to increase the total capacity, since it completed a $ 100 billion for the adjournment of last year by three million barrels a day, to the level of «sustainable» at 12 million barrels a day.
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