
Riadh - Saudi Arabia's Shaybah oilfield has some 15 billion barrels of proven oil reserves, more than a drop in the ocean of the Kingdom's estimated total reserves of about 260 billion barrels.
The oilfield is so far the sole oilfield in the Rub Al Khali, or Empty Quarter, desert that covers roughly a quarter of the Kingdom.
The Shaybah mega-project has been producing oil to the tune of 600,000 barrels per day (bpd) for less than a dollar a barrel since its completion by state-run Saudi Aramco in July 1998.
The reduction, one billion barrels up to December 2003, has been compensated by the addition of an estimated 2.4 billion barrels to the initial proven reserves of 15.7 billion.
The area also has gas reserves of 25 trillion cubic feet (650 million cubic metres), so far untapped.
The development, which cost $2.5 billion, boasts three gas-oil separation plants (GOSP). The oil is carried to Abqaiq south of Dhahran by a 640-kilometre (400-mile) pipeline.
PIN//AFP
News ID 16841
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