Saudi Arabia struggles to maintain production

Saudi Aramco admits that the natural decline of its old fields is now running at 8% a year. Infill drilling can of course help offset the decline but it is a losing battle. Overall it begins to sound as if Saudi Arabia has passed its Peak (see Item 713 below for a re-evaluation of this country).

Saudi Aramco's mature crude oil fields are expected to decline at a gross average rate of 8%/year without additional maintenance and drilling, a Saudi Aramco spokesman said Tuesday.

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