Saudi Aramco, the world’s largest oil-exporting company, plans to complete an increase in daily oil-production capacity to 13 million barrels per day from 12 million by 2027, according to its chief executive.

“The full capacity will be available by 2027 but it will come in increments,” Amin Nasser told the Energy Intelligence Forum, an online conference, on Monday.

In order to achieve the 13 million bpd capacity, “we will focus on existing fields and will make the appropriate disclosure and announcements when we reach certain project milestones but it is going to come from existing and new and fields, so it will be a combination of both”.