Saudi Aramco, the world’s biggest oil company, plans to drill 45 to 50 oil exploration wells next year, the company’s vice president for exploration said.

“Aramco now is exploring in every corner of the kingdom,” Abdulla
al-Naim said in an interview in Doha, Qatar, today. “Our exploration is
spread evenly in the Rub al Khali, in northwestern Saudi Arabia, in the
Gulf area, and in existing operational areas too.”

The company will begin acquiring 3D seismic data off the Red Sea coast
in the first quarter of 2010, and plans to drill the first well in
2012, he said.

“Our exploration program is very very active and very successful,”
al-Naim said. “Aramco wildcat exploration has close to a 50 percent
success rate based on a three-year moving average.”

Source: Bloomberg

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