Saudi Arabian Oil Company (Aramco) is launching a multi-billion dollar investment to expand its flagship Ghawar oil field. The project targets an additional 500,000 barrels per day in production capacity by 2030.
Aramco will deploy advanced reservoir management and enhanced oil recovery techniques to maximize extraction. The expansion aligns with a strategy to meet rising global demand while maintaining a reliable supply position.
Company executives announced the project in Dhahran, citing a strong long-term outlook for conventional resources. The initiative is expected to create thousands of jobs during the construction and operational phases.
Market analysts are tracking the project for its potential influence on global oil prices and supply dynamics.