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IP Week: Saudis reveal spending plans for next decade

02/19/2007
Saudi Arabia will spend $507 billion on energy and infrastructure projects over the next 11 years, a Saudi government official said Feb. 12 at the International Petroleum Week conference in London.The kingdom will spend about $267 billion on its oil, gas, and chemical businesses and $240 billion on developing minerals, environmental technologies, infrastructure, power, and water. “Deliverability is the issue for oil and gas, and not supply,” said Saud Al Amnari, minister plenipotentiary at the Saudi embassy in the UK. Speaking in place of Saudi Ambassador to the UK Prince Mohammed bin Nawaf, he pointed out that Saudi Arabia has about 100 years worth of reserves to tap and meet...
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