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Riyadh OKs Gas Project

Source: www.gulfoilandgas.com 11/5/2003, Location: Middle East

RIYADH, November 05, 2003 -- The Supreme Council for Petroleum and Mineral Affairs of Saudi Arabia has approved "in principle" a $2 billion gas project with a consortium led by Royal Dutch/Shell, according to the council's secretary-general.

The project, which links Saudi Aramco, Royal Dutch/Shell and France's Total, is for exploration, development and production of non-associated gas in 209,160 sq km of the south Rub' al-Khali or Empty Quarter.

"The meeting approved the project in principle," said Dr. Matlab Al-Nafeesa, the secretary-general.

The meeting, chaired Saturday by Crown Prince 'Abd Allah ibn 'Abd al-'Aziz, Vice President of the Council of Ministers and Head of the National Guard, also approved a framework agreement for three gas exploration and production projects.


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