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When Aramco released the first financial statements since its nationalization 40 years ago, lifting the veil of secrecy on its huge oil deposits.
The Ghawar field is a mystery to the Saudi State and its source, from which comes the wealth of the kingdom. This field has attracted the attention of oil traders and has provoked the emergence of many speculations.
The Al-Ghawar field is capable of pumping a maximum of 3.8 million barrels a day, far less than the five million that the market thought it could exploit, reported the Bloomberg news agency in a report released on Wednesday.
"The oil market has finally realized that the Ghawar field in Saudi Arabia, one of the largest conventional oil fields in the world, can produce much less than most people think," said Javier Plus, author of the report.
He pointed out that the Kingdom relies on a small number of giant fields to maintain its production capacity, which is about 12 million barrels a day.
Ferendra Chuhan, Production Manager at Energy Consultants Limited in Singapore, is surprised at the low production capacity of the largest oil field in Saudi Arabia.
Bloomberg: "Aramco" lost the crown
The new maximum production rate for the Ghawar deposit means that the US Permian deposit, which approved data to pump about 4.1 million bpd last month, is already the largest oil producing basin .
But Bloomberg added that this comparison was unclear because the Saudi deposit is considered the traditional reservoir, while Bramian is an unconventional rock formation.
According to data published by Riyadh, the Ghor field is of great importance to Saudi Arabia, accounting for more than half of its total oil production.
In addition to this deposit, Saudi Arabia, OPEC's largest oil producer, relies on two other deposits, Khurais (1.45 million barrels per day) and the ship (1). , 3 million barrels a day), while Aramco manages about 101 fields.
The report adds that the data published by the Saudi company confirm that it is capable of producing a maximum of 12 million barrels per day and that the Kingdom benefits from 500,000 additional barrels of energy fields located in the area. Saudi-Kuwaiti commune.
The author pointed out that Saudi Arabia maintained a production capacity ranging from one to two million barrels, which was used only during wars or unrest, or when the demand for water was high. black gold suddenly increased.
Source: Bloomberg
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