Special to WorldTribune.com

ABU DHABI — As new global shale oil resources continue to emerge, Saudi Arabia plans to increase its crude oil reserves by 20 percent.

Saudi Aramco said it would add 160 billion barrels to the kingdom’s crude reserves.

Aramco president Khalid Al Falih cited efforts to discover oil and gas reserves throughout Saudi Arabia.

“We also want to discover large additional resources of oil and gas from both conventional and unconventional sources,” Al Falih said.

“In the future, we want to see our nation also become a leading exporter of technological solutions, and a valued contributor to the global pool of knowledge and innovation.”

In a speech on Jan. 10, Al Falih said Aramco would employ its research centers to increase reserves. He said the state-owned company sought to drill 50 percent faster than in current projects.

  Khalid Al-Falih, Saudi Aramco, Saudi responds to shale boom with 20 percent increase in oil reserves