Riyadh,Riyadh Region,Saudi Arabia Saudi Arabia
SAUDI Oil&GAS Company Spending Highest Since ***8 In a report by Reuters, oil and natural gas company is likely to eclipse $**0 billion in investment in production projects. A consultant for Wood Mackenzie suggested that this increase in spending was driven by spending on drilling on shale gas in the US. The anticipated rises will are estimated at 5.3 percent, an increase from ***9 of $*9 billion. "The most spectacular recovery has been in the US, where total spend should return close to peak levels by ***1, " the consultant said. "This is primarily due to restored confidence and an impressive renewal of activity in unconventional resources, particularly shale gas." "Record growth in capital spending is already under way in Australia, where new project approvals and major gas developments will see capital expenditure grow three-fold by ***3, " Wood Mackenzie said. "In Iraq, upstream investment is likely to climb rapidly to $*0bn in the next three years." Major oil and gas companies have been utilizing the US with new, unconventional methods of drilling for shale gas, primarily drilling horizontally for thousands of feet and fracturing rock with water, sand and chemicals. One of the beneficiaries to this new expertise in shale extraction is Chevron Corp, who agreed this week to purchase Atlas Energy for $3.2 billion - a strategic move which enables the second-largest US oil company access to the Marcellus Shale formation in Pennsylvania.
Business Type
Exporters
Website
N/A
Year Established
1886
Number of Employees
51-100
Main Markets
Americas,Africa,Asia,Caribbean,America,East Europe,Europe,Middle East,North Europe,Oceania,West Europe,Worldwide
Products / Services
gas and oil
Factory Location
jeddah
Factory Size
50000 sqm to 1000000 sqm
No. of Production Lines
1
Total Annual Purchase Volume
25 - 50 Million USD
No. of R&D Staff
Less than 5 people
Quality Control
Third Parties
Certificates
N/A
Contract Manufacturing
OEM Service Offered
Registered Capital
More than 100 Million USD
Ownership Type
Professional Association
Legal Representative / CEO
osman hamad
Export Percentage
100%
Total Annual Sales Volume
Less than 1 Million USD
No. of QC Staff
Above 100 people
Contact Person
saudi
Company
saudigasandoil
Address
Riyadh, Riyadh Region, Saudi Arabia
Contact Person saudi
Address Riyadh, Riyadh Region, Saudi Arabia