Petroleum & Petrochemicals

The Kingdom of Saudi Arabia is considered to be the world's leading petroleum country regarding reserves, production, exports and refining capacity. The Kingdom owns one quarter of the world proven reserves estimated at 260 billions of barrels as of January 1 st , 2007. In addition, the Kingdom's undiscovered petroleum resources are conservatively estimated at 200 billion barrels.

The Kingdom's current production is estimated at an average of 9.5 million barrels per day (MMBD), or 13 % of world production. This is not in proportion with the Kingdom reserves that constitute 25 % of world reserves. This means that the reserve volume to annual production ratio is 87 folds, while the same ratio is approximately 10 folds in some other major producing countries, such as the United States , Canada , the United Kingdom and Norway. Knowing that it is forecasted that there will be an annual growth of 1.6 % in oil demand, the latest Kingdom's efforts completed the development for many mega projects which will boost its total production capacity from 10.5 to 11.0 MMBD. Future plans are set to gradually increase its production capacity to 12.5 MMBD. Increasing production at a later stage to 15 MMBD has been considered, and may be implemented if world consumption requires it.

The Kingdom's petroleum sales are estimated to be more than 20% in the international markets. Moreover, it has a refining capacity of up to 3 MMBD.

The Kingdom has been utilizing the abundance of associated petroleum gases and Natural Gas Liquids (NGL) to develop strong petrochemicals industries which placed the Kingdom among the leading petrochemicals companies in the world. Recent measures included the investment of $70 billion to double the products' types and increase their current 60 million tons per year to 100 million tons per year by the year 2015.

Addar Group with its strong technical and marketing teams realizes the importance of business development in the petroleum and petrochemicals sectors. For this purpose, Addar Group has accomplished the association and partnership through joint ventures and long term agreements with reputable companies and firms from different parts of the world. The companies are well known in their professionalism and long experience in the petroleum and petrochemicals industries and presented valuable services and support to these sectors.