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Saudi Arabia requests new offers from international petroleum companies
Saudi Arabia, Business, 5/4/2000
Saudi Foreign Minister Prince Saud al-Faisal said yesterday that Saudi Arabia called on foreign companies to present separate new offers during the coming weeks for investment in the Saudi energy sector, adding in a press conference that Saudi Arabia expects to make a determination on these offers by the end of this year.
This statement comes after a series of meetings among the heads of international petroleum companies and Prince Saud.
He added that the companies presented proposals to invest $200 billion over 20 years, saying that the current study of the offers found that the income from every dollar invested in the gas field gives a return of between five and eight dollars.
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