BAKU, Azerbaijan, March 12. Saudi Aramco's upstream division is set to keep investing in upcoming growth projects in 2024, including boosting crude production to uphold the maximum sustainable capacity (MSC) at 12 mb/d, Trend reports.
In January 2024, the government instructed Aramco to keep the MSC steady at this level. As the company noted, this directive won't affect the projects recently announced, such as the Dammam development and the crude oil increments in Marjan, Berri, and Zuluf.
The production from these initiatives is intended to support the MSC at 12 mb/d, giving us the flexibility to increase production. Aramco utilizes this spare capacity not only as a backup supply in case of unexpected production issues but also to uphold its production levels.
Additionally, according to the company, there's a focus on ramping up gas output to surpass 60 percent growth from 2021 production levels by 2030, depending on domestic demand.
Meanwhile, Aramco saw an average daily hydrocarbon production of 12.8 mmboed in 2023 (compared to 13.6 mmboed in 2022). Liquids accounted for approximately 84 percent of the total hydrocarbon production, maintaining a generally higher margin.
