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)

By Reuters

Published on 27/11/2018 - 07:34•Updated 26/04/2024 - 07:40

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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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