FACTS & FIGURES 2006 taking the initiative Initiative: 1) the action of taking the first step or move; responsibility for beginning or originating. 2) the characteristic of originating new ideas or methods.

ABBREVIATIONS USED IN THIS REVIEW: bpd = barrels per day scfd = standard cubic feet per day NGL = natural gas liquids 2 Key Figures 4 Taking the Initiative 8 Projects Timeline 18 International Operations 22 Domestic Operations 23 Saudi Aramco by the Numbers

© Copyright 2007 Saudi Aramco. All rights reserved. KEY FIGURES

Oil reserves and production Recoverable crude oil 259.9 billion barrels and condensate reserves Crude oil production (DAILY) 8.9 million barrels Crude oil production (ANNUAL) 3.25 billion barrels

Gas reserves and production (raw gas to gas plants) Gas reserves 248.5 trillion cubic feet Gas production (DAILY) 8.22 billion cubic feet Gas production (ANNUAL) 3.00 trillion cubic feet

Natural gas liquids (NGL)

NGL production (DAILY) 1.1 million barrels NGL production (ANNUAL) 399 million barrels

2 SAUDI ARAMCO New discoveries Gas fields Zimlah, Kassab, Nujayman

Wells completed New oil wells 333 294 onshore, 39 offshore New gas wells 35 35 onshore, 0 offshore Total recompletions 125 onshore, 47 offshore

Workovers Gas wells 5 onshore, 0 offshore Oil wells 126 onshore, 69 offshore Total oil well workovers 195 Total workovers 200

FACTS & FIGURES 2006 3 TAKING THE INITIATIVE

According to the International Energy Agency (IEA), global energy demand is projected to increase by more than 50 percent by 2030, with one-fifth of the increase accounted for by transportation, almost entirely in the form of oil-based fuels. Oil will remain the largest single source of fuel, with demand projected to rise from the 2005 rate of 84 million barrels per day (bpd) to 116 million bpd in 2030.

As an enterprise, we are committed to playing our part in meeting future demand growth and we’re backing that commitment by embarking on the largest capital program in our history.

We currently have half a dozen major crude oil increments at various stages of development, with a total production

4 SAUDI ARAMCO capacity of some 3 million bpd, roughly a 20 percent increase over our current capability. Some of that capacity will offset natural decline, while the remainder will expand our maximum sustained production capability, which by the end of 2009 will reach 12 million bpd.

Our slate of mega-projects also will enable us to maintain spare production capacity of 1.5 to 2 million bpd above forecast production, in keeping with the Kingdom's commitment to keep world markets stable.

FACTS & FIGURES 2006 5 TAKING THE INITIATIVE

The challenges present in the worldwide refining industry also have created a unique set of opportunities for companies willing to seize them. We are expanding our worldwide refining capacity through overseas joint and equity ventures. Domestically, we are preparing to build two new export-oriented refineries. In addition, we are proceeding with the construction of our joint-venture PetroRabigh integrated refining-petrochemical project.

We also are currently negotiating with The Dow Chemical Company as a potential partner in a joint venture to construct, own and operate a world-scale chemicals and plastics production complex integrated with our Ras Tanura Refinery. When fully operational, the new petrochemical complex will be one of the largest plastics and chemicals production facilities in the world, well-situated to access most major world markets. The anticipated project start-up date is 2012.

6 SAUDI ARAMCO The PetroRabigh and Ras Tanura integrated refinery projects are the latest chapters in Saudi Aramco’s transformation from a production powerhouse to a fully integrated, international energy enterprise and further evidence of the Kingdom’s efforts to leverage its resources to strengthen and diversify its economy.

For the 18th year in a row, Petroleum Intelligence Weekly ranked Saudi Aramco as the No. 1 oil company in the world. We like to think the honor is bestowed not only for our petroleum reserves and production capabilities, but also for our bold actions to meet the growing challenges facing our industry and our world.

FACTS & FIGURES 2006 7 PROJECTS TIMELINE

2006 Haradh-III Increment START-UP DATE: January 2006 Haradh is located at the southern tip of Ghawar, the world's largest onshore oil field, and produces Arabian Light crude oil. A project to increase crude oil production capacity involved the construction of three gas-oil separation plants (GOSPs), each with more than 300,000 bpd of production capacity. The first of these increments, Haradh GOSP-1, went on-stream in March 1996. The second increment, Haradh GOSP-2, was commissioned in April 2003. • Haradh GOSP-3 Production: 300,000 bpd Arabian Light crude oil; 140 million scfd associated gas.

8 SAUDI ARAMCO 2007 Hawiyah NGL Recovery Plant START-UP DATE: Fourth quarter 2007 This plant will boost petrochemical feedstock to the industrial cities of Jubail on the Arabian Gulf and Yanbu' on the Red Sea. Increasing the supply of high- value products from the Saudi gas sector is necessary to meet the expanding needs of the Kingdom's petrochemical industry. • Production: 4 billion scfd sales gas; 318,000 bpd NGL.

Khursaniyah Development Program The overall Khursaniyah Development Program includes oil production facilities, a grass-roots gas plant, two cogeneration units (each with a capacity of 150 megawatts) as well as water treatment and steam generation facilities to serve the Khursaniyah Producing Facilities and the Khursaniyah Gas Plant.

FACTS & FIGURES 2006 9 PROJECTS TIMELINE

2007 Khursaniyah Producing Facilities START-UP DATE: December 2007 Arabian Light crude oil will be produced and treated from three fields: Abu Hadriyah, Fadhili and Khursaniyah. • Production: 500,000 bpd Arabian Light crude oil.

Khursaniyah Gas Plant START-UP DATE: December 2007 The gas feed will include associated gas from crude production from the Khursaniyah Producing Facilities increment and other adjacent fields. • Production: designed to process 1 billion scfd of associated gas to produce 550 million scfd sales gas; 290,000 bpd ethane plus NGL.

10 SAUDI ARAMCO 2008 Ju’aymah Gas Plant Expansion START-UP DATE: First quarter 2008 Fractionation capacity will be expanded by almost 50 percent. The plant’s new module is designed to fractionate ethane and NGL streams from Hawiyah NGL Recovery Plant and Khursaniyah Gas Plant. • Production: additional capacity of 260,000 bpd for a total of 815,000 bpd.

Hawiyah Gas Plant Expansion START-UP DATE: July 2008 This facility became operational in December 2001. It can process 1.6 billion scfd of raw non-associated gas from wells in the Ghawar field and produce 1.4 billion scfd of sales gas and 170,000 bpd of condensate. • Production: additional capacity of 800 million scfd for a total of 2.4 billion scfd.

FACTS & FIGURES 2006 11 PROJECTS TIMELINE

2008 Nuayyim START-UP DATE: December 2008 This oil field was discovered in April 1990, in Central Saudi Arabia south of Riyadh, and produces Arabian Super Light crude. • Production: 100,000 bpd.

PetroRabigh Petrochemical Complex START-UP DATE: 2008 This project will transform the Rabigh Refinery into a fully integrated refining and petrochemical complex. The facility will supply petrochemical feedstocks to new industrial clusters which will manufacture value- added goods and products for export, further diversifying the domestic economy. • Production: 2.5 million tons of petrochemical derivatives; high quality fuels.

12 SAUDI ARAMCO 2008 Shaybah Expansion START-UP DATE: December 2008 Located deep in the Rub' al-Khali, the Shaybah facility has delivered 500,000 bpd of Arabian Extra Light crude oil since 1998. Construction of Shaybah GOSP-4 is under way. • Production: additional 250,000 bpd Arabian Extra Light crude oil for a total of 750,000 bpd.

FACTS & FIGURES 2006 13 PROJECTS TIMELINE

2008 Yanbu' NGL Plant Expansion START-UP DATE: December 2008 Currently, the plant has an overall fractionation capacity of 390,000 bpd. Detailed engineering design is progressing to increase this capacity by 50 percent. • Production: additional capacity of 195,000 bpd for a total of 585,000 bpd.

Yanbu' Gas Plant De-ethanizer Column START-UP DATE: December 2008 This project will increase ethane and NGL processing to help meet the growing demand for feedstock supply. • Production: additional capacity of 185,000 bpd for a total of 550,000 bpd.

14 SAUDI ARAMCO 2009 Khurais START-UP DATE: June 2009 The fourth-largest crude oil field in the world, Khurais is the largest integrated project in Saudi Aramco history. This increment includes production from Abu Jifan and Mazalij fields. Associated facilities include dehydration and compression of 450 million scfd of gas, and expansion of Southern Area seawater injection capacity by 4.5 million bpd. • Production: 1.2 million bpd of Arabian Light crude oil.

FACTS & FIGURES 2006 15 PROJECTS TIMELINE

2009 Fujian Integrated Project START-UP DATE: 2009 This proposed project, in cooperation with Fujian Petrochemical Company Ltd. and ExxonMobil, will triple the existing crude capacity of the Fujian refinery in China. The resulting petroleum products will be sold mainly through a marketing joint venture between Saudi Aramco Sino Company Limited (SASCO) (a wholly-owned subsidiary of Saudi Aramco), Sinopec and ExxonMobil. • Production: 240,000 bpd. • Associated facilities: Petrochemical complex.

East-West NGL Pipeline Enlargement START-UP DATE: December 2009 Capacity will be increased by 130,000 bpd to accommodate increased NGL production. • Capacity: 550,000 bpd.

16 SAUDI ARAMCO 2011 Manifa START-UP DATE: mid-2011 The fifth-largest crude oil field in the world, Manifa was originally discovered in 1957. New facilities include 25 miles (41 km) of causeway and a 1.9 mile (3 km) bridge to support 27 drilling islands, 11 offshore platforms, an onshore central oil and gas processing facility, water supply wells and injection facilities. • Production: 900,000 bpd Arabian Heavy crude oil; 105 million scfd of sour associated gas.

Export Refineries START-UP DATE: second half of 2011 In May 2006, separate Memoranda of Understanding were signed with ConocoPhillips and Total for the development of export refineries in Yanbu' and Jubail, respectively. These refineries will be designed to refine heavy, sour crude into products that meet current and future U.S. and European specifications. • Production: 400,000 bpd each.

FACTS & FIGURES 2006 17 INTERNATIONAL OPERATIONS

NORTH AMERICA 2 ATLANTIC 1 3 OCEAN

4

PACIFIC SOUTH Saudi AramcoOCEAN Headquarters, AMERICA DHAHRAN

KEY TO MAP BEGINS ON PAGE 20

18 SAUDI ARAMCO 5 7 6 EUROPE ASIA 15 17 18 10 14 8 13 16 9 19 12 11 20 22 AFRICA 21 INDIAN OCEAN AUSTRALIA

FACTS & FIGURES 2006 19 INTERNATIONAL OPERATIONS

1. HOUSTON Aramco Services Co. Saudi Refining Inc. Aramco Associated Co. Motiva Enterprises LLC. 2. NEW YORK Saudi Petroleum International, Inc. 3. BERMUDA Stellar Insurance Ltd. 4. CURAÇAO Bolanter Corp. N.V. Pandlewood Corp. N.V. 5. LONDON Saudi Petroleum Overseas Ltd. 6. ROTTERDAM Texaco Esso AOC Maatschap TEAM Terminal B.V. Texaco AOC Pumpstation Maatschap 7. LEIDEN Aramco Overseas Co. B.V. 8. EGYPT Sumed Arab Petroleum Pipelines Co. 9. RABIGH PetroRabigh 10. YANBU' Saudi Aramco Mobil Refinery Co. Ltd. 11. JIDDAH Luberef, Petrolube, Jiddah Oil Refinery Co.

20 SAUDI ARAMCO 12. DUBAI Vela International Marine Limited 13. JUBAIL Saudi Aramco Shell Refinery Co. 14. AL-KHAFJI Aramco Gulf Operations Co. Ltd. 15. BEIJING Saudi Petroleum Ltd. Aramco Overseas Co. B.V. 16. SHANGHAI Aramco Overseas Co. B.V. 17. SEOUL S-Oil Corporation 18. TOKYO Saudi Petroleum Ltd. Aramco Overseas Co. B.V. Showa Shell Sekiyu K.K. 19. HONG KONG Aramco Overseas Co. B.V. 20. MANILA Petron Corporation 21. SINGAPORE Saudi Petroleum Ltd. 22. KUALA LUMPUR Aramco Overseas Co. B.V.

FACTS & FIGURES 2006 21 DOMESTIC OPERATIONS

Turaif

Tabuk al-Jawf

Duba Safaniyah Jubail Ju’aymah Qasim Qatif Ras Tanura Dhahran al-Hasa Yanbu’ Riyadh

Rabigh

Jiddah

al-Sulayyil Abha Najran Jaizan

22 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

RECOVERABLE CRUDE OIL AND CONDENSATE (billions of barrels)

2006 259.9 ‘05 259.8 ‘04 259.7 ‘03 259.4 ‘02 259.4

0 100 200 300

FACTS & FIGURES 2006 23 SAUDI ARAMCO BY THE NUMBERS

RECOVERABLE GAS: ASSOCIATED & NON-ASSOCIATED (trillions of scf)

2006 248.5 ‘05 239.5 ‘04 237 ‘03 234.5 ‘02 230.6

0 125 250

24 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

SAUDI ARAMCO PRODUCTION, 1996 - 2006 (billions of barrels)

Crude Refined Year Oil Products 2006 3.25 0.59 2005 3.31 0.59 2004 3.15 0.57 2003 3.0 0.52 2002 2.5 0.52 2001 2.8 0.50 2000 2.8 0.50 1999 2.7 0.47 1998 2.9 0.47 1997 2.8 0.44 1996 2.9 0.44

FACTS & FIGURES 2006 25 SAUDI ARAMCO BY THE NUMBERS

CRUDE OIL PRODUCTION • ANNUAL (billions of barrels) • DAILY (millions of barrels)

3.25 2006 8.9 3.31 ‘05 9.1 3.15 ‘04 8.6 3.0 ‘03 8.1 2.5 ‘02 6.8

0 2 46810

26 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

RAW GAS TO GAS PLANTS (billions of scfd)

2006 8.224 ‘05 7.871 ‘04 7.35 ‘03 6.52 ‘02 6.19

0 3 6 9

FACTS & FIGURES 2006 27 SAUDI ARAMCO BY THE NUMBERS

DELIVERED SALES GAS & ETHANE GAS (trillions of BTUs per day) • SALES GAS • ETHANE GAS

5.830 2006 1.028 5.553 ‘05 1.079 5.039 ‘04 0.975 4.651 ‘03 0.757 4.509 ‘02 0.681

0 246

28 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

NGL FROM HYDROCARBON GASES (millions of barrels)

2006 399.0 ‘05 400.4 ‘04 387.3 ‘03 345.1 ‘02 316.9

0 150 300 450

FACTS & FIGURES 2006 29 SAUDI ARAMCO BY THE NUMBERS

SULFUR RECOVERY (millions of metric tons)

2006 2.9 ‘05 2.7 ‘04 2.2 ‘03 2.2 ‘02 2.4

0 1 2 3

30 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

DOMESTIC REFINING CAPACITIES (thousands of barrels per day)

• Ras Tanura: 550 • Riyadh: 120 • Jiddah: 88 • Yanbu’: 235 • Rabigh: 400

Saudi Aramco Mobil Refinery Company Ltd. (SAMREF) – Yanbu’: 400 (Saudi Aramco ownership: 50%) Saudi Aramco Shell Refinery Company (SASREF) – Jubail: 305 (Saudi Aramco ownership: 50%) Total domestic refining capacity (including 50-percent share of SAMREF and SASREF): 1,745,500

FACTS & FIGURES 2006 31 SAUDI ARAMCO BY THE NUMBERS

INTERNATIONAL EQUITY AND JOINT VENTURES REFINING CAPACITIES (thousands of barrels per day)

• Motiva: 725 (*50%) • S-Oil: 525 (*35%) • Showa Shell Sekiyu K.K.: 515 (*14.96%) • Petron: 180 (*40%) * Saudi Aramco ownership

Total international equity and joint venture refining capacity: 1,945,000 bpd Total worldwide refining capacity (company-owned/operated and equity and joint ventures): 3,690,500 bpd

32 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

SHIP CALLS AT SAUDI ARAMCO TERMINALS • CRUDE OIL • PRODUCTS • LPG

2006 1,913 Exports from Ras Tanura, ‘05 1,876 Ju’aymah and ‘04 2,145 Yanbu'. Transfers at 2006 1,417 Jiddah, Rabigh Yanbu' and ‘05 1,958 coastal bulk ‘04 1,809 plants.

2006 470 ‘05 571 ‘04 534

0 625 1250 2500

FACTS & FIGURES 2006 33 SAUDI ARAMCO BY THE NUMBERS

SAUDI ARAMCO EXPORTS, 2001 - 2006 (barrels)

Crude Refined Year Oil Products NGL* 2006 2,541,692,569 183,985,356 285,374,991 2005 2,622,997,627 201,589,157 289,485,392 2004 2,479,269,999 191,648,785 273,984,183 2003 2,357,921,983 158,047,102 265,929,431 2002 1,897,875,597 145,084,881 239,265,378 2001 2,178,362,274 169,281,494 230,072,047

*Natural gas liquids comprising propane, butane, condensate and natural gasoline

34 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

2006 EXPORTS BY REGION (barrels)

CRUDE: REFINED PRODUCTS: • Far East: 51.6% • Far East: 54.4% • Europe: 6.6% • Europe: 8.6% • Mediterranean: 8.4% • Mediterranean: 7.7% • USA: 19.2% • USA: 4.3% • Other: 14.2% • Other: 25%

FACTS & FIGURES 2006 35 SAUDI ARAMCO BY THE NUMBERS

2006 EXPORTS BY REGION (continued) (barrels)

NGL*: * includes sales on behalf of • Far East: 52.9% SAMREF & SASREF • Europe: 2% • Mediterranean: 6.3% • USA: 2.1% • Other: 36.7%

36 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

ESTIMATED WORLDWIDE CRUDE OIL RESERVES AS OF JANUARY 1, 2007 Source: Oil & Gas Journal

CONVENTIONAL CRUDE OIL RESERVES (billion barrels)

S. Arabia* 259.9 Iran 132.4 Iraq 115 Kuwait 101.5 UAE 97.8 Venezuela 79.7 Russia 60

0 100 200 300

* Source: Saudi Aramco actual

FACTS & FIGURES 2006 37 SAUDI ARAMCO BY THE NUMBERS

ESTIMATED WORLDWIDE GAS RESERVES AS OF JANUARY 1, 2007 Source: Oil & Gas Journal

NATURAL GAS RESERVES (trillion cubic feet)

Russia 1,680 Iran 971.1 Qatar 910.5 S. Arabia* 248.5 UAE 214.4 USA 192.5 Nigeria 184.6

0 600 1200 1800

* Source: Saudi Aramco actual

38 SAUDI ARAMCO SAUDI ARAMCO BY THE NUMBERS

CLASSIFICATION OF SAUDI CRUDE

Arabian Super Light (ASL) / API > 40˚ Arabian Extra Light (AXL) / API 36-40˚ Arabian Light (AL) / API 32-36˚ Arabian Medium (AM) / API 29-32˚ Arabian Heavy (AH) / API < 29˚

WORKFORCE AS OF 12/31/2006

• Saudi: 44,702 • Expat: 6,654 Total: 51,356

FACTS & FIGURES 2006 39 SAUDI ARAMCO BY THE NUMBERS

SAUDI DEVELOPMENT PROGRAMS Number enrolled at year-end 2006

Two-year apprenticeship 1 5,369 College Degree Program (CDPNEs) 2 995 Summer Programs 2,640 Co-op Students 376 Four-year college degree 978 College Preparatory Program 308 Associate Degree Program 17 Advanced degree 158 Advanced medical / dental 40 Two-year technical diploma 57

1. including 282 for PetroRabigh 2. excluding College Preparatory Program

40 SAUDI ARAMCO This booklet is printed on paper manufactured from a mixture of fibers including post-consumer recycled paper.