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Saudi Aramco to spend over $133 billion on drilling over next decade

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Saudi Aramco to spend over $133 billion on drilling over next decade

Saudi Aramco to spend over $133 billion on drilling over next decade
@ Copyright :
Ahmed Jadallah(Reuters)
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DUBAI (Reuters) - State oil giant Saudi Aramco will spend more than 500 billion riyals (101.16 billion pounds) on oil and gas drilling over the next decade, a senior company executive said on Monday.

"We will spend more than half a trillion Saudi Riyals on drilling activities over the next decade, in compliance with the goals and objectives of the ambitious Saudi Vision 2030," Mohammed al-Qahtani, Aramco’s senior vice president for upstream, said in a statement.

He was speaking at a graduation ceremony for the Saudi Arabian Drilling Academy (SADA) in Abqaiq, Saudi Arabia, according to the statement.

(Reporting by Rania El Gamal; Editing by Adrian Croft)

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