DHAHRAN, 31 August 2003 — Saudi Arabia produced a total of 2.5 billion barrels of crude oil in 2002 which comes to 6.8 million barrels per day in line with the OPEC decision on oil production by member countries.
A report from the Saudi Arabian Oil Company seen by Arab News revealed that in 2002 Saudi Aramco exported 1.9 billion barrels. The crude oil reserves at the end of 2002 stood at 259.4 billion barrels, maintaining the Kingdom’s status as the guardian of the largest reserves in the world, roughly one-quarter of the total. Future abundant supplies were assured as earth scientists and engineers once again met their goal of replacing the crude oil production for the year with fresh reserves, adding three new fields.
As a fully integrated, global energy company with partnerships around the world, Saudi Aramco backs up the Kingdom’s long-standing promise to ensure the stability of the international oil market and the reliability of supplies to consumers.
Helping deliver the energy are the newest additions to Vela International Marine Limited, Saudi Aramco’s shipping subsidiary. Vela maintains a modern fleet that meets all international safety and quality standards, safeguards crew members and protects the environment.
Saudi Aramco has completed 70 years since the signing of its first contract with Standard Oil Company of California (Socal). Since it struck oil at the famous Well No. 7, the company has produced a staggering 90 billion barrels of crude oil.
