In a statement the firms said, “The development of the offshore Abu Safah oil field and the mostly onshore Qatif may boost the nation’s output capacity by 800,000 barrels per day when full commissioning is completed in as long as three months.”
It did not elaborate further but it is believed the opening of the fields ahead of schedule and the possible delay in the shutdown of older wells is to ease concerns of a lack of capacity to supply oil.
Abu Safah has estimated reserves of 6.1 billion barrels of oil and Qatif has 8.4 billion barrels. Both fields have a combined natural gas capacity of 370 million cubic feet per day.
