The hottest Saudi Arabia gathers strength to devel

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Saudi Arabia has gathered forces to develop natural gas

Barclays Bank recently reported that the increasing domestic demand in Saudi Arabia has led to a decrease in oil exports, threatening the country's international trade status, even if it is equipped with pressure relief cloth due to various factors. More than 80% of Saudi Arabia's fiscal revenue comes from oil exports. Therefore, Saudi Arabia is trying to readjust its national oil company strategy. Barclays analyst James West pointed out in a research report that Saudi Aramco will be committed to natural gas development, is trying to seize the opportunity to develop unconventional oil and gas resources, and is trying to become a leader in unconventional natural gas development technology

according to statistics, Saudi Arabia's oil consumption has increased to 2.9 million barrels/day in 2012, accounting for about 25% of oil production; In 2000, the oil consumption of the country was 1.6 million barrels per day, accounting for about 17% of the oil production. With the development of economy, oil consumption is rising, Saudi Arabia's oil for export is decreasing, and its fiscal revenue is also declining, which in turn affects the development of the domestic economy and the supply balance of the international oil market. In order to reverse this trend, the Saudi Arabian government first considered the strategic repositioning of the national oil company to speed up the development of natural gas resources because the raw material price of polyurethane waterproof coating is much higher than that of other products. The purpose of Saudi Aramco to vigorously develop natural gas is to use natural gas resources to replace the oil currently used for power generation

according to Barclays, Saudi Aramco will increase its oil and gas exploration and production expenditure this year, from US $11billion in 2012 to US $15billion, and it is mainly used for the development of oil and gas resources and unconventional resource potential, including deepwater oil and gas resources

Saudi Arabia has 288 trillion cubic feet of natural gas, ranking fourth in the world. Saudi Arabia's natural gas production increased in 2012, from 890million cubic feet/day in 2011 to 990million cubic feet/day. Barclays predicts that as Saudi Arabia's natural gas production continues to increase, Saudi Arabia's industrial economy is shifting from the current oil dependence to natural gas

Saudi Aramco is currently expanding the production of non associated natural gas in three offshore oil fields, namely Karan, arabiyah and hasbah offshore oil fields. According to curve comparison 3, the company has determined that it will develop unconventional natural gas resources in the following three areas: the waters of Tabuk Province in the northwest of Saudi Arabia, South Ghawar in the East, and the rubkhari desert

due to Saudi Arabia's internal energy subsidy policy, the current price of natural gas in Saudi Arabia is only 75 cents/million British thermal units. "We believe that Saudi gas prices will rise in the near future to promote shale gas exploration and development activities in the region." West said

according to the report, Saudi Aramco has invested 142 drilling rigs, including 51 for natural gas drilling and 91 for oil drilling, which also have incomparable advantages over the old hydraulic universal testing machine. It plans to add 37 drilling rigs by the end of the year, and most of them will be used for natural gas drilling. It is predicted that 200 drilling platforms will be put into operation in Saudi Arabia by the end of 2014. According to Saudi Aramco's natural gas and unconventional oil and gas resource development plan, more drilling equipment may be put into use

West pointed out that Saudi Aramco has recently obtained a number of natural gas discoveries in the Red Sea region, including some deep-water natural gas discoveries. The company plans to drill another seven natural gas wells in the waters of Tabuk Province in the Red Sea by the end of this year. In the field of technology, since 2010, Saudi Aramco has established 11 international R & D centers and established research partnerships with South Korea and France. West predicts that Saudi Aramco's repositioning strategy will accelerate deepwater and shale exploration activities. In the future, Saudi Aramco will become a global technological innovation company, mainly committed to solving its own onshore and offshore oil and gas development challenges

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