Saudi Arabia’s state-owned giant Aramco has shut down several oilfields, including Safaniya, the world’s largest offshore oil field, due to security threats from the conflict with Iran. Saudi Arabia shut down the Safaniya, Marjan, Zuluf, and Abu Safa fields, curtailing an estimated 2–2.5m barrels per day. All four fields are located offshore. Safaniya is the world’s largest offshore oil field, with more than 30bn barrels of oil in proven reserves. Zuluf is another mega field estimated at about 30bn barrels, which has a production capacity of over one million barrels per day. Up to 2.5m barrels per day have been curtailed Aramco has already been hit by Iranian attacks. At the start of the month, the company shut its 550,000 bpd Ras Tanura refinery on Saudi Arabia’s east coast after it was struck by an Iranian drone. The facility was shut down as a precaution. Fortunately, no injuries were reported. Saudi Arabia and Aramco have followed the UAE, Bahrain, Iraq, and Kuwait, which all curbed oil production due to the near-total halt of tanker passage through the Hormuz Strait. An offshore facility has already been hit by Iranian strikes. However, the platform remains unidentified. Also, Borr Drilling’s Arabia III rig was affected by an incident on a customer-operated platform on March 7. The rig was subsequently safely shut down, and all personnel were successfully evacuated. The safety situation forced the company to reduce the number of workers on all four rigs operating in the Gulf, one in Saudi Arabia, one in the UAE, and two in Qatar. These four rigs are still under contract and are insured. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsIran Saudi Arabia