Saudi Aramco will spend more than $133 billion on drilling in the next decade

Saudi Aramco will spend more than $133 billion on drilling in the next decade
Aramco is currently in the process of buying a stake in SABIC.
Published: 18 September 2018 - 4 a.m.
By: Carla Sertin

At the first graduation ceremony for the Saudi Arabian Drilling Academy (SADA) on Monday, several senior members of Saudi Aramco addressed the 132 students from 34 drilling and services companies about the future of their sector in oil & gas.

"We will spend more than half a trillion Saudi Riyals [$133 billion] on drilling activities over the next decade, in compliance with the goals and objectives of the ambitious Saudi Vision 2030," said Mohammed Al-Qahtani, Saudi Aramco’s Senior Vice President for Upstream. He emphasized the importance of training programs in closing the talent and skills gap in the oil & gas industry.

SADA launched in September 2016, and its 20-month programme provides training for diverse jobs; from rigman and junior services operator to skilled engineers, riggers and heavy equipment operators. The academy is funded by 34 private drilling and services companies.

“The concept behind SADA is unprecedented, where companies that operate in a competitive market agree to cooperate in a win-win approach and join forces for the good of the industry. What is happening here is a true sense of responsibility and solidarity among industry players. It is a start, and will inspire others,” Saudi Aramco President and CEO Amin Nasser said.

SADA is supported by Saudi Aramco, which won our Training Initiative/Programme of the Year 2018 award for its Geoscience Train initiative targeting youth.


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