Aramco to Raise Rig Count to Focus on Unconventional Gas

Saudi Arabia is expected to ramp up its rig count to more than 150 units next year as it focuses on stepping up unconventional gas exploration.

The rigs will largely cover drilling in the Red Sea area and oilfields at Shaybah and south of Ghawar, Reuters reported citing sources.

The state owned energy giant Aramco will drill as many as 20 gas wells in the northwest of the country.

The report said that if these exploration wells prove to be economically viable, they will go for development and will raise the rig count even more.

Saudi Aramco chief Khalid Al-Falih said late last year his company would focus on gas in the short-to-medium term and did not need to raise oil production capacity beyond the current 12 million bpd, Reuters said.