RIYADH, 23 April 2003 — Foreign Minister Prince Saud Al-Faisal said yesterday that the Kingdom’s multibillion-dollar natural gas initiative was still on track.
Addressing a press conference here, Prince Saud denied reports that ExxonMobil, the world’s leading oil company, had pulled out of the project. “I have received a letter from ExxonMobil chairman (Lee Raymond) categorically denying the company had pulled out,” the prince said.
“He assured me that they are still enthusiastic about the project,” said Prince Saud, who heads a ministerial committee conducting talks with eight foreign oil companies.
Raymond was quoted by Forbes Magazine earlier this week as saying the Saudi project was not competitive and the company had abandoned it.
But a spokesperson for ExxonMobil said on Sunday: “Raymond’s (statement) was taken out of context. We continue to have discussions with the Saudi government on the natural gas initiative.”
Prince Saud said the US-led war on Iraq had no impact on the talks between Riyadh and eight international firms over three gas projects requiring an initial investment of $25 billion.
The Saudi chief diplomat also urged the US-led forces to quickly establish an Iraqi interim administration in Baghdad as a prelude to setting up a legitimate government. “We urge the occupying governments to quickly set up an interim government in Iraq and to control the security situation,” Prince Saud said.
But he said Riyadh would deal with a US military administration in Baghdad headed by retired general Jay Garner only for “practical reasons, like sending aid” to the Iraqi people.
