MOSCOW (Reuters) – Saudi Arabia will invest $20 billion (15 billion pounds) in the next few years to maintain and expand its spare oil production capacity, Saudi Energy Minister Khalid al-Falih said on Thursday.

Saudi Arabia’s oil production capacity stands at 12 million barrels per day.

(Reporting by Dmitry Zhdannikov and Denis Pinchu; Editing by Emelia Sithole-Matarise)