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FINANCIAL NEWS
Saudi to develop Midyan gas field
03 Jan 2013
(MENAFN) Saudi Oil Minister, Ali Naimi, stated that during the current year, the ministry would develop the Midyan gasfield that would commence production in the near future, reported Gulf Daily News citing Saudi Gazette.
Naimi said that the field would increase the number of electric power plants run by gas instead of diesel, and the produced electricity and gas would reach several industrial zones.
He noted that the field, located in the Red Sea, was discovered in the 1980s, however, it has not been developed yet.
The Kingdom is planning to increase its natural gas production in order to meet growing domestic power demand and to provide its petrochemical industry with raw materials.
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