Custodian of the Two Holy Mosques Opens King Abdullah Petroleum Studies and Research Center

Economics News
Published 21 Jan 2016
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Custodian of the Two Holy Mosques Opens King Abdullah Petroleum Studies and Research Center

Riyadh, SPA:

 Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud opened here yesterday King Abdullah Petroleum Studies and Research Center in Riyadh.

 Upon arrival, the Custodian of the Two Holy Mosques was received by Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Region; Prince Saud bin Abdullah bin Thunayan, President of Royal Commission for Jubail and Yanbu; Minister of Petroleum and Mineral Resources Eng. Ali bin Ibrahim Al-Naimi; Chairman of Board of Directors of Saudi Aramco Eng. Khalid Al-Falih; and a number of officials.

 Custodian of the Two Holy Mosques was briefed on the Center's facilities. He paid tribute to late King Abdullah for his achievements and prayed to Allah Almighty to bless his soul.

Addressing the gathering, Minister Al-Naimi said 'this is indeed a great occasion, one in which the Custodian of the Two Holy Mosques King Salman ibn Abdulaziz, honors us by attending this ceremony and inaugurating this significant edifice of science; one more addition to our dear country’s numerous edifices of science, knowledge, research and studies, which are growing, one day after another, not only in number but also in the amount of giving, all under the support and auspices of a forward-thinking leadership always keen to take the initiative in all that serves the Kingdom and its people'.

 He said energy is one of the most important cornerstones of nations’ development, economic growth and prosperity. No nation can grow without the various energy sources, mainly oil and gas, noting that the the Kingdom, endowed with huge oil and gas resources, owns about 20% of the world’s known oil reserves and ranks first globally in oil production and export and fourth in natural gas reserves. Besides, it is one of the world’s major countries in manufacturing and exporting petroleum products, petrochemicals, fertilizers, etc. Such a position could never have been attained if it was not for clear government policies, dedicated officials, and the creative, well-educated, highly productive and dedicated capacities of the citizens working in such mega facilities.

He stated that oil and gas’s contribution to the Kingdom’s development and the prosperity of its people, either over the past decades or in the future, is beyond doubt. What we need now is to develop the various energy sources to achieve economic competitiveness, meet the needs of development while fulfilling the requirements of environmental preservation and creating practical and scientific solutions to use energy at lower cost and with higher efficiency, he said.

 And here comes the role of universities and research centers, such as the King Abdullah Center for Petroleum Studies and Research Center that you are inaugurating today, he said.

 The minister added that the Kingdom has always given special attention to education and scientific research since its establishment at the hands of the Founding King, King Abdulaziz ibn Abdulrahman, may Allah have mercy on his soul, in order achieve national development and prosperity for its people, utilize its various resources optimally, and join the ranks of the most advanced nations.

 In light of the Kingdom’s leading and significant role in the global energy market and the significance of oil to the national economy, the Government directed the Saudi Aramco to establish a center specialized in the studies of oil, and of energy in general, he said, adding that this center received significant support from the late King Abdullah ibn Abdulaziz, may Allah have mercy on his soul, and still receives the same level of support from the Custodian of the Two Holy Mosques, King Salman ibn Abdulaziz, he added.

 He concluded that the Center has achieved outstanding results during the short period since it was established, and has garnered significant global respect and attention. We are confident that it will have impact both locally and globally during the years and decades to come.

Although independent financially and administratively and sets its research direction, Al-Naimi said that the Center’s overarching goal is to serve the Kingdom and its various institutions and establishments, especially those related to the energy sector and including the private sector, and contribute to the diversification and expansion of the Saudi economy, which is a main objective of the Government of the Custodian of the Two Holy Mosques, King Salman ibn Abdulaziz, HRH the Crown Prince and HRH the Deputy Crown Prince. The Center also contributes to the development of local and global studies in the areas of oil and all types of energy such as solar and wind energy, in conjunction with Saudi and global universities and research centers, thus giving the Kingdom a distinguished position in the area of energy research reflecting its importance in this arena, he added.

 He expressed tremendous happiness of the King's honoring the inauguration ceremony of this significant investment in knowledge, which is as part of the monarch's vision for the Kingdom as a place of wisdom and learning for science, scientists and researchers and his keenness on creating a place for the Kingdom on the map of global studies and research.

 Then, the monarch cut the ribbon, announced the inauguration of the center.

 The inauguration ceremony was attended by Prince Mishaal bin Saud bin Abdulaziz; Prince Naif bin Saud bin Abdulaziz; Prince Dr. Abdulrahman bin Saud Al-Kabeer; Prince Dr. Mansour bin Miteb bin Abdulaziz, Minister of State and Member of the Cabinet and Advisor to the Custodian of the Two Holy Mosques; Prince Miteb bin Abdullah bin Abdulaziz, Minister of National Guard; Prince Dr. Turki bin Saud bin Mohammed, President of King Abdulaziz City for Science and Technology; Prince Yousef bin Saud bin Abdulaziz; Prince Ahmed bin Abdullah bin Abdulrahman, Governor of Al-Dareya Province; Prince Mohammed bin Abdulrahman bin Abdulaziz; Prince Ahmed bin Fahd bin Salman bin Abdulaziz; Prince Abdullah bin Bandar bin Abdulaziz, ministers and senior officials.

Last Modified Date: 21/01/2016 - 7:38 AM Saudi Arabia Time


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