Saudi Arabia to improve own economy

The Saudi foreign minister prince Saud al-Faisal has described the gas agreement his government signed on Sunday evening in Jeddah with 8 world oil companies as aiming to expand the area of the Saudi economy and to find out job opportunities to Saudi citizens through increasing investments.

The Saudi foreign minister who supervised the process of negotiations with the world companies expected in a statement that the investment bids proposed by the international companies to make a fundamental change in the Saudi economy through the indirect investments resulting from developing the gas sector.

The Saudi government had signed with 8 international oil companies an agreement to develop three giant gas projects in Saudi Arabia including the development of the sector of gas and electricity, desalinization of waters and petrochemical industries, estimated at a cost of USD 30 billion.