Governor of the Eastern Province Prince Muhammad bin Fahd bin Abdulaziz, inaugurating in Dammam yesterday the First Saudi Gas Forum, reiterated the Kingdom’s concern to extend all possible facilities and incentives to investors. The three-day forum has been organized by the Eastern Province Chamber of Commerce and Industry (EPCCI) in cooperation with the Ministry of Petroleum and Mineral Resources and Saudi Aramco.
Minister of Petroleum and Mineral Resources Ali Al-Naimi gave an address in which he explained that it was in 1975 that the Saudi Government launched an extensive program for industrial development, which included utilization of the Kingdom’s natural gas and its liquefied products. Since then, he said, Saudi Arabia's gas production has risen to about seven billion cubic feet per day. He went on to state that investment in the gas sector, and the gas agreements recently signed with a number of international companies, would provide more job opportunities, have a positive contribution to diversification of the Kingdom’s industrial base and boost the role of the private sector in the country’s economic development.
President and Chief Executive Officer of Saudi Aramco Abdullah bin Salih Juma'a commented that the forum provides the opportunity to strengthen partnership bonds with international as well as national private sector companies. He stressed that Aramco’s concern is to continue to promote investment in areas dependent on oil and gas, in support of the Kingdom's strategies. These strategies, he said, aim at enhancing the national economy, activating the role of the private sector in the development process, and creating thousands of new job opportunities for young Saudis.