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Saudi King Launches Oil, Cultural Projects Standing at $43.5 Billion - ASHARQ AL-AWSAT English Archive
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Dhahran- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz launched five Saudi Aramco expansion projects with an estimated worth of $43.5 billion (equivalent to some SAR163 billion.)

The projects encompass production-oriented expansion for the national oil and gas giant, Aramco. The projects are expected to produce a daily 3 million barrels equivalent of crude oil and gas.

King Salman also inaugurated the King Abdulaziz Center for World Culture whose construction works are at a dashing $800 million cost. The center would later serve in growing cultural and academic knowledge.

As for Aramco’s five, King Salman kicked off development works on the Manifa oil field, Wasit Gas Plant, Khurais oil field, and Shaybah oil field and liquefied gas plants in Empty Quarter (Rub Al-Khali).

The Shaybah oil field’s efficiency is expected to increase by 275,000 bpd. After the inauguration of the Chiba project, one of the largest projects in the world, Saudi King Salman al-Saud said that the kingdom’s Empty Quarter is no longer “empty”, but it is a “fully functioning location.”

The site was built in Saudi Arabia’s Rub‘ al Khali (Empy Quarter) desert, the largest contiguous sand desert in the world covering most of the southern third of the Arabian Peninsula.

The event marked the 80th anniversary of the first shipment of crude oil of Aramco, which was launched by the founder of Saudi Arabia, Abdulaziz Al Saud, SPA said.

The king, who is on a visit to the Eastern region this week, also launched on Tuesday other industrial projects worth 92.2 billion dollars. The projects aim to diversify Saudi Arabia’s economy.

King Salman gave a word to the company’s employees, wishing them success and delivering national and public pride of the undying efforts spent by the workforce. The King watched a video presentation on the history of Saudi Aramco. Then, a group of young Saudis presented crystal stones to the King, symbolizing each of the new projects.

The King launched the mega oil projects with lifting the joystick for energy to flow from various production plants with a total production capacity of about 3 million barrels per day.

The King then interacted through video conferencing with a group of young Saudi employees at each of the newly opened facilities.