Aramco will be extremely busy next year under its 2006 Operating Plan, approved Dec. 10 at a meeting of the company's Executive Committee chaired by president and CEO Abdallah S. Jum'ah.
Abd Allah S. Al-Saif, senior vice president of Exploration and Producing, said the Operating Plan is based on the company's 2006-2010 Business Plan, which focuses on increasing Saudi Aramco's contribution to the Kingdom's revenues and on actively promoting development of the local economy.
Saudi Aramco's new Operating Plan anticipates that the company's drilling-rig fleet will more than double from year-end 2004 through 2006. The plan projects a 61-percent increase in the number of development wells drilled in 2006 from 2005, to support current production and future increments.
During 2006, the company also plans to execute four mega-projects, and it will seek new business opportunities in petrochemicals and other derivative products.
