Saudi Arabia has nearly doubled its drilling rig fleet to 100 and aims to have 121 rigs by the end of the year as the world’s top oil exporter moves to boost its crude and gas output capacity, Aramco said.

“Saudi Aramco now has an unprecedented 100 drilling rigs operating in the field ... With global gas and oil exploration increasing at a hectic pace, Saudi Aramco has been orchestrating the arrival of more drilling rigs in the kingdom,” the state oil giant said.
“By the end of the year, we expect to have 121 rigs in the field. With global demand for energy soaring, and drilling rigs in short supply, Saudi Aramco is evaluating all options to meet our drilling requirements,” it added.
Aramco said last September it wanted to double its fleet to 110 by 2006 from 55 rigs in 2004.
Aramco said that the 100th rig was the recommissioned SAR-101, which had been taken out of service in 1999 during a period of low activity.
It said the rig was the second to be reactivated and that a third retired rig would follow.
“With exploration moving at such a feverish pace all over the country, it’s really a challenge to find the amount of equipment required and deploy it in the field, which makes SAR 101’s reactivation even more important,” the statement said.
Saudi Arabia has fast-tracked oilfield expansion plans to hike its oil output capacity to 12.5 million barrels per day (bpd) by 2009 to maintain a spare production capacity of at least 1.5 million bpd and meet growing demand.
The kingdom sped through its Haradh oilfield project, bringing online 300,000 bpd in March five months ahead of schedule to raise its output capacity to 11.3 million bpd.
It plans to complete by June 2007 its Khursaniyah project to add 500,000 bpd of Arabian Light crude, six months earlier than previously announced.
Aramco has also speeded up its Khurais development project to add 1.2 million bpd by June 2009 in what the firm has called its biggest crude increment programme.