Middle East Economic Survey
Manifa Project Highlights Rising Saudi Upstream Costs
Saudi upstream costs are rising sharply, with new increments exponentially more expensive that previous ones, a presentation on 4 December by state-owned Saudi Aramco CEO Khalid al-Falih indicates. The 900,000 b/d Manifa expansion project, due to start coming on stream in 2013, will require capital costs of more than $17,500 per b/d or a total of $15.75bn.
Our brownfield Haradh...