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 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 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 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. (ASHARQ AL-AWSAT).