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Saudi Aramco plans gas investments of $150 billion over next decade - CEO

Saudi Aramco plans gas investments of $150 billion over next decade - CEO
FILE PHOTO: An Aramco oil tank is seen at the Production facility at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia May 22, 2018. REUTERS/Ahmed Jadallah   -   Copyright  Ahmed Jadallah(Reuters)
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DUBAI (Reuters) – Saudi Aramco said on Tuesday its gas programme would attract $150 billion worth of investments over the next decade with production growing to 23 billion standard cubic feet a day from the current 14 billion.

“We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources … currently we have 16 drilling rigs concentrating on unconventional gas and more than 70 wells completed this year,” CEO Amin Nasser said at a conference in Dubai.

Nasser also said Aramco plans to invest $100 billion over the next 10 years in chemicals globally, in addition to potential acquisitions.

(Reporting By Rania El Gamal; writing By Maha El Dahan; editing by Richard Pullin)

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