Major forum puts focus on oil projects in the Kingdom

Shaikh Mohammed bin Khalifa Al Khalifa, Minister of Oil, participated in the 24th World Energy Conference, which was held in Abu Dhabi, under the patronage of HH Shaikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates. The participants 71 ministers and 500 chief executives, at the world’s largest international gathering to meet the challenges and shape the future of the world’s energy industry.

The minister expressed his sincere thanks and appreciation for the invitation of Suhail Al Mazroui, Minister of Energy of the United Arab Emirates, to participate in this meeting between senior figures in the relevant decision-making. He highly appreciated the tireless efforts made by the teams on organizing this important event, noting that the world oil markets are witnessing the growth and positive development despite concerns due to geopolitical impacts and trade-economic tensions. Pointing out that OPEC is committed in its hard work to achieve the overall goals to balance the global market.

The minister spoke at the first session about the most important oil projects implemented by the National Oil and Gas Authority (NOGA) in the Kingdom and the implications of joint ventures between various specialized companies in this field. He also discussed future challenges and solutions that contribute to the growth of the economy and its positive development.

The minister stressed the co-operation among the oil-producing and consuming countries and other stakeholders and encouraging innovation and investment in human resources to achieve a high level of efficiency, benefiting from existing regional companies that possess global expertise, and the establishment of joint ventures. In a related context, the minister appreciated the vision of Saudi Arabia, that has been transforming its energy sector to benefit its economy.