Petroleum wealth in Tabuk to spur growth



JEDDAH: ARAB NEWS

Published — Tuesday 1 January 2013

Last update 2 January 2013 2:29 pm

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Petroleum and Mineral Resources Minister Ali Al-Naimi yesterday highlighted the growing oil, gas and mineral reserves in the Tabuk region. “Gas production at Madyan field will start this year,” he added.
“Tabuk is heading to have huge wealth following the discovery of petroleum, gas and mineral resources in the region. It should make the people of Tabuk and other parts of the country happy,” the minister said.
Speaking to reporters on arrival in Tabuk, Al-Naimi said the purpose of his visit was to supervise exploration work being carried out by the ministry and Saudi Aramco. “Tomorrow we’ll issue a detailed statement on exploration works in the region including the oil and gas fields and the presence of minerals such as phosphate.”
He said gas fields found in the region would be used for local consumption. “We have found gas offshore and onshore,” he added.
The minister said Madyan gas would be used to operate electricity generators, adding that electricity and gas from the area would boost Tabuk’s industries. He said the ministry has already licensed a company to produce iron from Wadi Sawawin in the region.
Khaled Al-Falih, president and CEO of Saudi Aramco, said they would be working on seven fields in the first phase, adding that some of them are in deep waters of the Red Sea.

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