Citation
Aramco's oil production costs least in the world at $2.8 per barrel
TL;DR
Aramco average production cost: $2.8/barrel (SAR 10.6) in 2018
IPO prospectus data showing Saudi Aramco's cost advantage from scale. Production cost of $2.8/barrel (vs. industry average ~$15) demonstrates how infrastructure amortization and reservoir efficiency create favorable scaling in capital-intensive industries.
Key Findings from Al-Awsat (2019)
- Aramco average production cost: $2.8/barrel (SAR 10.6) in 2018
- Lowest production cost among major oil producers
- Scale enables infrastructure amortization across massive production