A Review of the Nigerian Energy Industry

Saudi Aramco budgets over $133bn on drilling over next decade

19 September 2018, Sweetcrude, Lagos — Saudi Aramco will spend more than $133 billion on oil and gas drilling over the next decade.

A report by Reuters quoting a senior executive of the company, Mohammed al-Qahtani, who spoke at a graduation ceremony for the Saudi Arabian Drilling Academy, SADA, in Abqaiq, Saudi Arabia, said the $133 billion spend is targeted towards the 2030 goals and objectives of the country.

“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,” the Aramco’s senior vice president for upstream said in a statement.

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