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Saudi Aramco plans to spend $414 billion on infra, drilling in next decade

Saudi Aramco's plan includes $134 billion to spend on drilling and well services and $78 billion to maintain oil output potential

Reuters  |  Saudi Arabia 

Saudi Aramco plans to raise its spending to $414 billion over the next 10 years, including on infrastructure and drilling, as the state oil giant moves into new businesses, executives said. The spending plan is higher than Aramco's projection last year of around $334 billion by 2025, as the oil producer has been expanding its businesses, the company's chief executive Amin Nasser said on Tuesday. "We are into so many sectors now," Nasser told reporters on the sidelines of an industry conference aimed at promoting the kingdom's industrial base and the ...

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First Published: Tue, December 12 2017. 16:34 IST