DAMMAM: Saudi Minister of Energy Prince Abdul Aziz bin Salman bin Abdul Aziz said that his ministry would enhance the economic and political security of Saudi Arabia by creating an environment in which businesses could take advantage of opportunities in Al-Jufurah gas field.
The prince spoke during the main session of the 2020 Energy Pioneers Forum, organized by the Eastern Province Chamber of Commerce and Industry in Dammam.
“The ministry will create an enabling environment for small and medium scale enterprises (SMEs) to leverage the opportunities available in the energy sector,” he said.
“The project of developing Al-Jafurah gas field is the largest booster for the energy … sector in the Kingdom. We aim to reach 90 percent of (electricity) production from gas and renewable energy,” explained the minister.
He added that the Al-Jafurah field would start production in 2023, noting that the numbers previoulsy revealed about the capacity of the field were an underestimate.
“It will enable the Kingdom to convert the current power stations from petroleum products to gas, which is a rationalization of fuel.”
Dr. Ghassan Al-Shibl, chairman of the Local Content and Government Procurement Authority (LCGPA) stressed the importance of the role of the authority in empowering entrepreneurs, adding that their participation would have a strong impact on the national economy.
He said that linking the LCGPA to government procurement would give it the ability to put in place controls aimed at maximizing local output in various government programs.