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$400 billion expenditure in Saudi Arabia for oil and gas projects

08 January 2010

The GCC continues to be a potent investment and business destination for a wide range of oil and gas projects, particularly with Saudi Arabia poised to spend up to USD 400 billion for its own high-profile oil and gas projects within the next several years.

The Saudi Government's enormous oil and gas project investments are also in line with the country's Master Gas Strategy Plan, which aims to harness Saudi Arabia's expansive gas reserves estimated to reach up to 230 trillion cubic feet to help address the growing global demand for gas.

The Saudi Oil and Gas 2010, a business-to-business networking trade exhibition, is expected to provide an excellent gateway to various high-value projects in Saudi Arabia as it gathers trade exhibitors and visitors from all over the world, including China, Germany, United Kingdom, Italy, France, Turkey, Egypt, Qatar, Kuwait, UAE and Iran. The trade event will be held at the recently completed Riyadh International Exhibition Centre, one of the region's most advanced exhibition facilities, from January 17 to 20, 2010.

Fadi Keyrouz, Event Manager of Saudi Oil & Gas at Riyadh Exhibitions Company said: "Leading figures from the world of oil and gas, particularly key investors from various related industries, will be flocking to the Saudi Oil and Gas 2010 exhibition to look for lucrative investment deals, including ambitious joint-venture projects. Diplomats, high-profile government officials and VIPs will also be attending this important industry event. There has been an overwhelming response from key industry players, including suppliers, potential partners, local agents, manufacturers and end-users who have been attracted by the high-power mix of investment potential offered by Saudi Oil and Gas trade show."

The four-day trade exhibition will include various workshops and seminars, which will outline and explore possibilities in various potential investment projects across all oil and gas industry segments.

Exhibiting companies that have confirmed their participation at the event come from a wide range of industry segments, including oil, gas and petrochemical; mining, exploration, production and refining; drilling, valves, pipes and fittings; services, maintenance, safety and security; storage and transportation.

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