Global Arab Network | Saudi engages in $ 230 bln investment - Prince Abdulaziz Bin Salman inaugurates Oil & Gas Exhibition

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Saudi engages in $ 230 bln investment - Prince Abdulaziz Bin Salman inaugurates Oil & Gas Exhibition

Monday, 18 January 2010 11:26

Saudi's oil production and consumption maintain positive performance, creating fresh business prospects
Prince Abdulaziz Bin Salman Bin Abdulaziz, Assistant Minister for Petroleum Affairs, Ministry of Petroleum and Mineral Resources, inaugurated the Saudi Oil & Gas 2010, a business-to-business networking trade exhibition that features the latest innovations, technologies, machineries, equipment and services from more than 70 local and international exhibitors at the recently completed Riyadh International Exhibition Centre, one of the region's most advanced exhibition facilities.

Over 6,500 trade visitors are expected during the four-day run, as Saudi Oil & Gas 2010 provides an ideal platform for key industry players to leverage Saudi's burgeoning oil production and consumption requirements within the next 10 years. Saudi Oil & Gas 2010 likewise serves as the perfect gateway to tap into other lucrative business opportunities in the rest of the region as the world is expected to become increasingly dependent on Arab oil in the next two decades.

To meet the growing global demand, Saudi Arabia itself has been engaged in USD 230 billion an extensive investment program, which includes USD 90 billion for petrochemical projects, USD 90 billion for power generation and USD 50 billion for natural gas-related projects.

Mohammed Al Hussaini, Deputy General Manager, Riyadh Exhibitions Company, organiser of Saudi Oil & Gas, said: "It is an honour to have H.R.H. Prince Abdulaziz Bin Salman and some of the most important personalities from the oil and gas sector and the government during the inauguration of Saudi Oil & Gas 2010. The attendance of such distinguished dignitaries underlines the importance of this event and highlights the government's support for this initiative in line with the country's long-term growth plans. With over 6,500 visitors confirming their attendance, Saudi Oil & Gas 2010 will certainly be one of the most important networking events in the industry, which we hope will usher in new business possibilities, ambitious joint venture prospects and fresh investment opportunities in the new decade." Saudi Oil & Gas 2010 incorporates various workshops focusing on diverse technical issues that affect the oil and gas sector in Saudi Arabia and the rest of the region.

The event offers a total of 5000 square metres of exhibition space that has been designed to accommodate the distinct requirements of exhibitors and visitors from different countries, including China, Germany, United Kingdom, India, Malaysia, Turkey, Egypt, Qatar, Kuwait, UAE and Iran. Saudi Oil & Gas 2010 will also feature two official pavilions from Germany and China.

Exhibiting companies that are participating at the event come from a wide range of industry segments, including oil, gas and petrochemical; mining, exploration, production and refining; drilling, valves, pipes and fittings; services, maintenance, safety and security; storage and transportation.

Global Arab Network

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