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Saudi Aramco to Spend over $133b on Drilling over Next Decade

Source: Reuters 9/17/2018, Location: Middle East

State oil giant Saudi Aramco will spend more than 500 billion riyals ($133 billion) 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.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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