Investments in Oil and Natural Gas to 2010
July 10, 2005
Al-Watan newspaper quoted Vice President of the ARAMCO Oil Company, Salim al-’Aydh, who said in early May 2005 that the Company will invest about SR 487 billion by 2010 in oil and natural gas projects. These projects will supply about 50,000 new jobs for engineers and another 700,000 jobs of various types. He estimated that Gulf States’ investments in oil and natural gas projects by 2010 will come to $421 billion, including $95 billion by the UAE, $80 billion by Iran, $46 billion by Qatar, $35 billion by Kuwait, $15 billion by Iraq, and $10 billion each by Bahrain and the Oman Sultanate.