For more than eight decades, we have prudently managed Saudi Arabia’s oil and gas reserves to maximize their long-term value, and to enable the growth of economies around the world.
In 2016, we achieved a new record for crude oil production, averaging 10.5 million barrels per day (bpd). We also produced a record level of sales gas, averaging 8.3 billion standard cubic feet per day (scfd).
On their own, the Kingdom’s hydrocarbon reserves represent potential energy. The transformation of potential into opportunity requires the best people, practices, and technology — attributes that underlie our aim to become the world’s leading integrated energy and chemicals company.
Transforming potential into opportunity
We create maximum value from the Kingdom’s resources by reinforcing our preeminent position in exploration and production, replacing produced oil, increasing gas reserves, and growing oil and gas production while optimizing costs.
Petroleum is the original wellspring of Saudi Arabia’s prosperity, and the foundation of its continued growth. Our drive to create more value from the resource base is powered by the expertise and ingenuity of our people, our relentless focus on best-in-class practices, operational efficiency, the use of innovative technologies, and research into the sustainable use of hydrocarbons.
Together, these capabilities help to further diversify the economy and launch new business opportunities for oil field service providers, suppliers, manufacturers, and technology developers.