Middle East Saudi Aramco plans gas investments of $150 billion over next decade

Saudi Aramco plans gas investments of $150 billion over next decade

FILE- Saudi Aramco Chief Executive Amin Nasser speaks during the opening of Middle East Petrotech 2016, an exhibition and conference on refining and petrochemical industries, in Manama, Bahrain, September 26, 2016.

 Saudi Aramco said on Tuesday its gas program would attract $150 billion worth of investments over the next decade with production growing to 23 billion standard cubic feet a day from the current 14 billion.

“We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources … currently we have 16 drilling rigs concentrating on unconventional gas and more than 70 wells completed this year,” CEO Amin Nasser said at a conference in Dubai.

Nasser also said Aramco plans to invest $100 billion over the next 10 years in chemicals globally, in addition to potential acquisitions.

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