BRIEF-Saudi Aramco FY Profit Rises

SAUDI ARABIAN OIL CO: * FY NET PROFIT AFTER ZAKAT AND TAX 604.01 BILLION RIYALS VERSUS 412.4 BILLION RIYALS YEAR AGO

* FY SALES 2,006.96 BILLION RIYALS VERSUS 1,346.93 BILLION RIYALS YEAR AGO * IN 2022, ARAMCO'S AVERAGE HYDROCARBON PRODUCTION WAS 13.6 MILLION BARRELS OF OIL EQUIVALENT PER DAY (MMBOED)

* BOARD RECOMMENDED DISTRIBUTION OF BONUS SHARES TO ELIGIBLE SHAREHOLDERS IN THE AMOUNT OF ONE SHARE FOR EVERY 10 SHARES HELD * CAPITAL EXPENDITURE IN 2022 WAS $37.6 BILLION, AN INCREASE OF 18.0% FROM 2021

* CONSTRUCTION AND ENGINEERING ACTIVITIES FOR MARJAN AND BERRI CRUDE OIL INCREMENTS CONTINUE TO PROGRESS, AND ARE EXPECTED TO ADD PRODUCTION CAPACITY OF 300,000 BARRELS PER DAY (BPD) AND 250,000 BPD, RESPECTIVELY, BY 2025) * ZULUF CRUDE OIL INCREMENT IS IN THE ENGINEERING PHASE, AND IS EXPECTED TO PROVIDE A CENTRAL FACILITY TO PROCESS A TOTAL OF 600,000 BPD OF CRUDE OIL FROM THE ZULUF FIELD BY 2026

* EXPECTS 2023 CAPITAL EXPENDITURE TO BE APPROXIMATELY $45.0 BILLION TO $55.0 BILLION INCLUDING EXTERNAL INVESTMENTS * CONSTRUCTION ACTIVITIES ARE ALSO CONTINUING ON DAMMAM DEVELOPMENT PROJECT, WHICH IS EXPECTED TO ADD 25,000 BPD AND 50,000 BPD OF CRUDE OIL BY 2024 AND 2027, RESPECTIVELY

* COMPRESSION PROJECTS AT THE HARADH AND HAWIYAH FIELDS COMMENCED COMMISSIONING ACTIVITIES AND FULL CAPACITY IS EXPECTED TO BE REACHED IN 2023 * SAUDI ARAMCO - CONSTRUCTION AT THE HAWIYAH UNAYZAH GAS RESERVOIR STORAGE, THE FIRST UNDERGROUND NATURAL GAS STORAGE PROJECT IN THE KINGDOM, IS AT AN ADVANCED STAGE AND HAS COMMENCED INJECTION ACTIVITIES.

* ARAMCO CONTINUED ITS TRACK RECORD OF SUPPLY RELIABILITY BY DELIVERING CRUDE OIL AND OTHER PRODUCTS WITH 99.9% RELIABILITY IN 2022 Further company coverage: