Riyadh-Mubasher: Saudi Aramco will complete the latest stage of its expansion project at the southeastern Shaybah oil field within two weeks, according to President and CEO Amin H. Nasser.
Aramco is looking for opportunities in the US, India, Indonesia, Vietnam and China, Nasser told journalists, adding that the firm was seeking to expand globally via joint ventures in Asia and North America.
The state-owned oil firm started to prepare for the initial public offering (IPO) of less than 5% of its shares, which include a single domestic listing and a dual listing with a foreign market, Nasser noted.
The increased capacity of 250,000 barrels per day (bpd) is aimed at improving Saudi Arabia's crude oil quality and at making up for declining output at other fields.
The company expected its ship repair and shipbuilding complex that it is developing at Ras al-Khair to be fully operational by 2021, Nasser noted.
