Saudi Arabia's Karan Gas Field Completion Ahead of Schedule

Saudi Arabian Oil Co's Karan Gas Field expects to reach full capacity this summer, a year ahead of schedule, Bloomberg reported.

Aramco is accelerating work at the project as demand for gas in Saudi Arabia grows rapidly. With electricity consumption rising by about 8 percent a year, the country wants to produce more gas to run power plants and save valuable oil for exports.

Aramco has another major project under way to pump 2.5 billion cubic feet a day of gas from Hasbah and Arabia fields. The project will be onstream in 2014, the report said.