Nasr noted that Saudi Aramco is using pioneering technology in exploration, producing and reservoir management, while the company will be adding crude oil production capacity roughly equivalent to today's output from Kuwait or Venezuela. Downstream, meanwhile, the company is expanding its refining capacity domestically and internationally, adding some 1.6 million barrels per day of capacity with joint venture partners. But Al-Nasr singled out Saudi Aramco's recent foray into the field of oil-based petrochemicals for the audience of chemical engineers. Working with Sumitomo Chemical of Japan, Saudi Aramco is building an integrated refinery-petrochemical mega-project on the Kingdom's Red Sea coast, slated to produce nearly 2.5 million tons per year of petrochemical solids and liquids, as well as refined petroleum products. Similarly, Saudi Aramco is also looking to build an integrated refining-petrochemical complex in the country's Eastern Province. "Our vision is to achieve a bustling downstream conversion industry that is rich in jobs and value creation, something that is of great importance to our nation," said Al-Nasr. --MORE
