Khurais is an undeveloped giant oilfield located 100 miles to the west of Riyadh, the capital of Saudi Arabia. It has become the hot spot to increase crude oil production because of the following two factors
1. consumer’s demand to decrease oil prices
2. United States demand to promote Saudi Arabia for the production of Oil
More: - Aramco, one of the Saudi Arabia’s oil company is investing $10 billion in building of infrastructure at Khurais and two of its neighbour so that it can pump approximately 1.2 million barrels of oil each day earliest by next June. It would be producing more than the production of each OPEC members Indonesia, Ecuador and Qatar.
This project has made it a target to produce 12.5 million barrels per day by the end of 2009 from present 11 millions barrels production.
What Happened? – Saudi Arabia in the meeting of oil consuming and producing countries resisted for increasing the oil production by saying that falling dollar and financial speculators are responsible for oil price hike and not the shortage in supply.
As the outcome of disagreement, Saudi Arabia agreed to increase the production of oil to 15 billion barrels per day, if required in the recent years.
It is estimated that Khurais and its neighbouring oilfields Mazalij and Jifan fields have the capacity to produce 27 billion oil barrels. It will not be a difficult for Saudi Arabia as it already has world largest Ghawar oil field, which is producing 70 billion barrels of reserves.
But experts say that it will be very difficult as Aramco is already using 100s of workers at its field. More than 150 of well pumps will be required to bring crude oil to the surface and then gas and water will be separated out. The oil will be transported to country’s pipeline for its release to ships at Red sea.
Sea water injection system is also under construction to pump approximately 2 million barrels of water from Gulf to maintain the pressure to bring oil to the superficial level.
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