Oil fields may be described as regions where there is an abundance of petroleum present in underground reservoirs. Multiple oil wells are drilled and operated to extract the petroleum from the reservoirs. At present the total amount of oil fields in the world are estimated to be about 40,000.
Oil fields are frequently located in hard to reach areas.
Manifa Oil Field is located on a manmade island. This is one of the most interesting projects in oil and gas industry. Thanks to current technology, engineers and architects can create artificial islands and make the production of oil much easier and simpler. Of course, in order for such manmade island to promise a good return on investment, it must be situated in shallow waters. Otherwise, it will need a lot of material to build it.
In the beginning, this project was known as the Manifa Arabian heavy crude program. Although this is an investment of Aramco, the authorities gave their support because it was part of the plan for the development of new Saudi oilfields that have allowed Saudi Arabia to boost oil production. It is projected that the maximum capacity for oil production in Saudi Arabia is about 12.5 million barrels and Manifa provides a great contribution.
The Manifa field’s production capacity is expected to reach 500,000 bpd by July 2013, and is planned to reach its full design capacity of 900,000 bpd of Arabian Heavy crude oil by the end of 2014, while Saudi Aramco’s maximum persistent capacity will be maintain at the level preceding Manifa production.
Last October, His Excellency Ali I. Al-Naimi, Minister of Petroleum and Mineral Resources and Saudi Aramco’s Chairman of the Board of Directors, led the board members on a review tour of the Manifa field production conveniences and inaugurate reservoir water injection along the perimeter of the Manifa field.
The Manifa project is unique in many ways with its innovative engineering design to develop the field’s optimum production capacity, while caring for the environment and optimizing its budget.
Saudi Arabia has the second largest oil reserves in the world, so it is quite logical that there are several successful oil companies in this country. One of them is Saudi Aramco or simply Aramco. With returns of around $380 billion and value between $2 trillion and $10 trillion, Saudi Aramco is the most valuable company in the world.
Manifa oil field Location: – Located 200km north of Dhahran in the Persian Gulf, Saudi Arabia
Manifa Oil field owners: – Owned by Saudi Arabian Oil Company (SAUDI ARAMCO)
Manifa Oil field companies: – State-owned oil company Saudi Aramco.
Manifa Oil field recoverable reserves: – Manifa Oil field is reported to contain an estimated recoverable oil reserve of up to 13 billion barrels.