(MENAFN- Saudi Press Agency)
'In addition our upstream research and development are focused on increasing recovery from existing assets and optimizing reservoir management and increasing oil and gas exploration and discovery striving to replace 100% of produced oil with new reserves and growing reserves annually. All of these factors are embedded in our strategy to contribute even greater value to the Kingdom's economy.'
'As well as supporting our customers through commodities export strengthening our role as the world's most reliable energy supplier Saudi Aramco will continue to support the Kingdom's domestic energy needs: supporting the shift to gas to drive utilities expansion and improved national energy efficiency; oil to support transport fuel efficiency; and petrochemicals feedstocks supply to support rapid economic diversification through the growth of SME manufacturing sectors that are reliant on downstream conversion into high-quality consumer products.'
'Saudi Vision 2030 will consolidate and augment Saudi Aramco's role at the heart of our nation. Critically important is the role that highly skilled local talent will play in creating a more vibrant and diverse economy. Saudi Aramco will continue to invest in strengthening its world-class engineering capabilities and training and development programs. This focused effort will help to ensure that future generations of young Saudis are well prepared to manage the Kingdom's energy resources.'
For his part Supreme Vice President for Operations and Business Services of Saudi Aramco Muhammad bin Mohsen Al-Saggaf said:
'Saudi Vision 2030 recognizes that the Saudi people are the Kingdom's most precious resource. Lowering the national rate of unemployment from 11% to 7% by 2030 is a challenging but achievable goal. Enhancing national education levels embedding skills for the knowledge economy and increasing women's participation in the workforce are all critical to helping achieving it. Saudi Aramco will continue to support initiatives that enrich our workforce with world-class science technology and engineering skills and training but also through partnerships that fit with our company and Kingdom strategy.'
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12:59 LOCAL TIME 09:59 GMT
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