Saudi Arabia requests new offers from international petroleum companies

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.