Saudi Aramco unfreezes reserve fields

The Saudi oil company Saudi Aramco has decided to unfreeze its offshore fields and begin production there. This is reported by the NaftoRynok.

“Saudi Aramco is launching inactive offshore oil fields, part of its reserve capacities, to at least partially cover the loss of production”, Bloomberg reported, citing informed sources.

The launch of the offshore oil production process indicates that the company is increasingly less optimistic about the likelihood of a quick recovery in oil production.

Reuters, citing several sources, reported that Saudi Aramco would take months to resume normal production volumes.

The company itself claims that oil exports will remain normal this week as Saudi Arabia uses its reserves. However, according to Reuters’ sources, state corporations may need to reduce supplies to the world market later if interruptions in production continue for a longer time.

Recall that on September 14 drones had attacked the facilities of the state-owned company Saudi Aramco, after which a fire had broken out. The Houthis rebels in Yemen took responsibility for the attack. In turn, US Department of State head Mike Pompeo accused Iran of attacking Saudi Aramco's oil facilities.

Tags: contracts, oil, hydrocarbon production, energy market, добыча нефти, drilling, Oil refinery plant, foreign affairs, oil transit

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