Saudi Govt. Says Commercialization of Nonconventional Resources Vital to Achieving Vision 2030

Saudi Govt. Says Commercialization of Nonconventional Resources Vital to Achieving Vision 2030

The Saudi government stressed on Tuesday that the commercialization of unconventional resources is vital for achieving several goals of the Kingdom's Vision 2030.

Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held virtually amid the ongoing coronavirus pandemic.

The cabinet underscored the importance of the Jafurah gas field as the Kingdom seeks to develop its unconventional gas reserves.

Saudi Aramco expects the gas field to produce approximately 2 billion cubic feet per day of gas by 2030, CEO Amin Nasser said on Monday at a conference on the commercialization of unconventional resources.

The Jafurah field project will cost it no more than 5 billion to 6 billion riyals ($1.3-$1.6 billion), its Energy Minister Prince Abdulaziz bin Salman al-Saud said at the same conference.

The Saudi government reviewed a number of contacts and meetings that were held between Saudi officials and friendly countries in recent days.

The ministers highlighted King Salman's speech before the Group of Strategic Vision Russia — Islamic World summit that was held in Jeddah. His remarks reflect the Kingdom's keenness on bolstering international security and stability and supporting dialogue between different civilizations and cultures. They also reflect the Kingdom's role in adopting moderation and coexistence.

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