Al-Falih... encouraging results.
Aramco plans natural gas plant in northern Saudi
AMMAN, January 26, 2015
State-run Saudi Arabian Oil Company (Saudi Aramco) plans to start natural gas production facility at a field in northern Saudi Arabia next year, a report said.
This comes as Saudi Arabia is stepping up its investments in gas, the Amman Daily News report quoted the company’s chief executive as saying at the World Economic Forum in Davos, Switzerland.
“Results are extremely encouraging,” Khalid Al-Falih said, referring to the field.
Aramco is exploring for gas and boosting refining capacity to free more crude for export, he said.
“Lower oil prices may discourage investment in new production at the same time demand is set to rebound later this year,” Al-Falih said. “People will now be careful before committing large sums of money to the mega projects in the oil and gas industry.”