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

State oil giant Saudi Aramco will spend more than 500 billion riyals ($133 billion) on oil and gas drilling over the next decade, said a senior company executive.

 

“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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