DUBAI (Dow Jones)--Saudi Arabia, the world's largest crude exporter, has foiled a large-scale attack on oil installations in Yanbu on the Red Sea and in the Eastern Province, the official Saudi Press Agency reported.

Saudi security forces arrested 701 suspects in recent months that were planning to attack oil facilities among other targets, with 520 of those arrested still being detained, SPA reported, citing an interior ministry statement. Security forces found money, ammunition and arms, and electronics and documents linked to the plans, SPA reported. "These terrorists were arriving from Iraq, Afghanistan and North Africa to target oil installations and security forces. They had already begun planning to target oil installations," SPA said. The terrorist groups were financing plans to attack oil fields through "fraudulent funds" collected for charitable purposes. These groups are in direct contact with Ayman Al Zawahiri," SPA reported.