Saudi Aramco to spend over US$133b on drilling over next decade

[DUBAI] State oil giant Saudi Aramco will spend more than US$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.

REUTERS