Breaking news in Riyadh! Saudi Arabia is finally investing $110 billion to develop unconventional gas reserves in Al Jafurah! What?
As Saudi Arabians, you might be quite familiar with Al-Jafurah because it is well known for being the world’s largest conventional oilfield! We all know Saudi Arabia for being rich in oil and gas, which is why this news is delightful to hear!
Al Jafurah is estimated to hold 200 trillion cubic feet of wet grass which will make it easier for them to plan out the execution! The plans for later developing the grounds was reviewed last month by the Saudi High Commission for Hydrocarbons in a previous meeting by the Crown Prince Mohammed bin Salman!
The phased development of the field is expected to gradually increase Saudi productions to 2.2 trillion cubic feet by approximately 2036. This investment will definitely help rain money down on Riyadh! Yes it will take a few years to execute the plan and set everything in motion, but it will be a fortunate journey for the citizens of Saudi Arabia.
The Crown Prince stated that the 22 years it will take to fully develop the field will definitely provide the government with an annual income of $8.6 billion as well as will contribute to the kingdom’s gross domestic product per year!
The field is expected to produce 130,000 barrels per day! Yawza, what a number! They’ll also be capable of producing around 500,000 BPD of gas liquids and condensates. The term unconventional gases refer to reserves in using advanced extraction methods such as the ones used in the Shade Gas Industry.
A team of several high tech savvies as well as advanced workers will be in charge of such a life changing event happening in Saudi Arabia!
Great changes are taking place in Saudi Arabia and it is believed to be a positive one where millions and millions will be made! Maybe this will even make it to the Guinness World Book of Records in 2020, we’ll just have to wait and see!
Princess Nourah Bint Abdulrahman University Jumped 59 Places in Global Rankings
Congratulations to Princess Nourah Bint Abdulrahman University (PNU) for jumping 59 places in one year only, the university now ranks the 79 globally in the internally recognized UI GreenMetric World University Rankings.
The university ranked second at the local level in the UI GreenMetric 2020 and the fourth in the Middle East.
The ranking, which is done every year, measures the efforts that campuses exert to become sustainable and its eco-friendly infrastructures. The index looks at 912 universities in 94 countries.
It looks at six main indicators: Infrastructure, energy, waste, water, transportation, and the level of the educational process.
PNU’s advancement this year reflects the effort of the university in maintaining the environmental standards and providing an integrated healthy educational environment that aims at achieving environmental sustainability at all levels.
The Kingdom to Provide Covid-19 Vaccine For Free to All Citizens and Residents
The Saudi Health Ministry announced last night that the Kingdom will provide citizens and residents with the Covid-19 vaccine for free, a senior official told Saudi Al Ekhbariya TV.
The ministry hopes that these vaccines will cover 70% of the Kingdom’s population by the end of next year.
Dr Abdullah Asiri, assistant undersecretary at the ministry, said that the Kingdom is to obtain vaccines through Covax and companies outside of the consortium.
“The Kingdom worked on two paths to obtain the vaccine, through the COVAX organisation, which the G20 had a role in creating and financing…Saudi Arabia will obtain a large number of vaccines through this facility, while the second track is directly contracting with the big companies to cover the gap that cannot be covered through COVAX,” Arab News mentioned Asiri as saying.
“One of the most important goals set by the G20 during Saudi Arabia’s G20 presidency is to support all-inclusive and equitable access to vaccines, diagnostic and treatment tools,” he added.
Dr Al Rabeeah said Saudi Arabia had spent so far more than $200 million on vaccine and developing a drug for the virus.
The promising news is that so far, three vaccines from Pfizer, Moderna and AstraZeneca have been found to be at least 70% effective.
G-20 Leaders Close Riyadh Summit and World Leaders Discuss Efforts in Facing the Pandemic
The G20 Leaders’ Summit was presented virtually this year due to the pandemic and was hosted by Saudi Arabia with the participation of the world’s leaders.
The two-day conference ended on Sunday, its organizers hailed it as a success. Following this success, the Kingdom handed over G20 presidency to Italy as Riyadh summit concluded.
The two-day summit, the 15th meeting of the forum, has allowed leaders of economies to come together and discuss the most challenging socioeconomic issues, including finding a response to the pandemic and its challenges.
“We underscore the urgent need to bring the spread of the virus under control,” the leaders of the G-20 nations said in the communique.
“We have seen very clear signs but also actions by the G-20 supporting multilateralism,” Mohammed al-Jadaan, Saudi Arabia’s finance minister, said during a news conference at the summit’s conclusion.
“We hope that Italy will crystallize this idea with the aim of supporting joint international coordination and intensifying the role, to come up with policies and initiatives to meet any challenges and determine the economic and well-being of our peoples,” the crown prince said.
The crown prince stressed on the importance of cooperation in standing against the outbreak of COVID-19, and its health, economic, and social repercussions.
The G20 leaders also promised to “spare no effort” to ensure the fair distribution of COVID-19 vaccines and medicines worldwide.
“We are taking immediate and exceptional measures to address the COVID-19 pandemic and its intertwined health, social and economic impacts, including through the implementation of unprecedented fiscal, monetary and financial stability actions,” the statement said.