Maybe, anyone looking at Saudi Aramco should take its statements with a boatload of salt. We know that EOR (Enhanced Oil recovery) is a big issue in SA, and we also know that they pump prodigious amounts of seawater into oilfields in order to lift more oil. I am not an upstream man but I understand enough to know that this artificial lifting is not on the cheap side. Somehow cashes with the 2,8 USD. And also knowing that some of the biggest fields in SA are also some of the oldest producing fields on Earth, I have a hard time believing this figure. But to each his own – we all must decide on what we take for real and what might be hyped a bit (lot).
Saudi Aramco can pump oil at a fraction of the cost of rivals and extracts more from beneath the Arabian Peninsula’s deserts and seas than the output of the five biggest international producers combined, helping clinch its spot as the world’s most profitable company.