Saudi Aramco to Use New Technology to ‘Massively Increase’ Exploration

The world’s largest oil exporter, Saudi Aramco, plans to “massively increase” oil exploration and more than quadruple investment in such activities over the next five years, the chief geophysicist of Saudi Arabia’s massive state oil company said yesterday.
Speaking in Washington at an energy technology conference sponsored by the Center for Strategic and International Studies, Muhammad M. Al-Saggaf said the company will maintain its level of commitment to gas exploration, “even increasing a little over the next five years.” But the main focus will be on scouring the globe for the earth’s locked up “black gold.”

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