Wednesday 26 January 2022

Saudi King Salman at the project launch ceremony.

Saudi Arabia inaugurates five big energy projects

DHAHRAN, December 4, 2016

Saudi Arabia has launched five mega oil and gas projects - Wasit Gas Plant, Manifa oilfield, Shaybah natural gas liquids, Shaybah oil increment, and Khurais oil increment - in line with the kingdom’s development objectives outlined by Vision 2030.

The projects were inaugurated by Saudi King Salman bin Abdulaziz Al Saud during his official visit to Saudi Aramco headquarters along with the new King Abdulaziz Center for World Culture.

The five energy projects, launched at Saudi Aramco’s Oil Supply Planning and Scheduling (OSPAS) facility, will enhance the kingdom’s crude production and processing capability and make more gas available for power and manufacturing.

The projects are also an integral step toward meeting the increasing domestic demand for energy and chemicals, and building gas production that increases the use of efficient, cleaner-burning fuel.

King Salman was received by Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources and chairman of Saudi Aramco, and Amin Nasser, the president and chief executive of Saudi Aramco, who also presented an overview of recent company projects supporting Vision 2030.

Speaking at the launch, Al Falih said: "With these initiatives, we continue to deliver on the kingdom’s promise for a better tomorrow with new energy capabilities, new value creation opportunities, and a platform to reach new knowledge frontiers."

"Saudi Vision 2030 focuses on promoting the Kingdom’s leadership not only in the fields of energy, industry, and economy, but also in science, technology and culture. This will be a major breakthrough in knowledge and development, with a core objective to promote creativity in the Kingdom and build bridges with other cultures," he noted.

Nasser said these new projects and the King Abdulaziz Center represent Vision 2030 in action.

A first institution of its kind in the Kingdom, the Center brings together multiple offerings under one roof to make a positive and tangible impact by building local talent in the knowledge, cultural and creative industries.

Blending iconic architectural design with advanced technology, and unique learning methods with enriching programs, the Center is an infinitely inspiring platform for explorers, learners, creators, and leaders.

As a thriving hub of knowledge, creativity, and cross-cultural engagement, it will help support a nation rapidly transforming into a knowledge economy. The King Abdulaziz Center is due to open in the second half of 2017 to the public.

"Saudi Aramco will continue to play a leading role in harnessing new opportunities to create jobs, attract investment, and promote diversification and growth," he noted.

Prior to the visit to Dhahran, King Salman visited Jubail to officially inaugurate projects initiated by the Royal Commission for Jubail and Yanbu’, Sabic, the Sadara Chemical Company, the Saudi Aramco Total Refining and Petrochemical (Satorp) company, and the King Salman International Complex for Maritime Industries & Services. -TradeArabia News Service

Tags: Saudi Arabia | energy projects | King Salman |

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