SharpEagle s Comprehensive Forklift Safety Solutions Revolutionise Safety at IIFCO Delmon - Yanbu Saudi pressreleasepoint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pressreleasepoint.com Daily Mail and Mail on Sunday newspapers.
Abu Dhabi National Oil Company (ADNOC) said on Friday it would acquire a 30% equity stake in the Absheron gas and condensate field in the Caspian Sea off the coast of Baku. The agreement would see Azeri state oil company SOCAR and TotalEnergies each holding a 35% stake in the field. TotalEnergies had announced first gas from Absheron in July. Prior to Friday's agreement, it held a 50% stake alongside SOCAR. ADNOC's investment in Azerbaijan comes as part of a strategic plan to grow its international gas business.
As part of its efforts to attract more local and foreign investments, the Royal Commission for Jubail and Yanbu in Saudi Arabia has allocated approximately 15.1 square kilometers of industrial land in its cities, with an investment volume exceeding SAR 80 billion Saudi riyals ($21.6 billion). This initiative aims to double its investment size by 2040, currently estimated at around a trillion riyals. It is anticipated that these investments in primary, mining, and transformational industries will generate over 16,000 direct job opportunities.
Saudi Arabia s Yanbu combining nature and technology arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.