Saudi Arabia to boost gas production
Saudi Arabia plans to increase its gas production up to 15 billion cubic feet (424 million cubic meters) per day in 2016, Al Arabiya quotes Prince Faisal bin Turki, advisor at the Saudi Arabian Petroleum and Minerals Ministry as saying.
According to the BP, Saudi Arabia's proven gas reserves hit 283.1 trillion cubic feet (8 trillion cubic meters) in early 2011.
The country's oil production increased by 7 percent and amounted to 83.9 billion cubic meters in 2010.
Faisal bin Turki stressed that petrochemicals production in Saudi Arabia is experiencing its "golden period". He said the country's petrochemicals production will exceed 100 million tons by 2016.
The total investment in the petrochemical industries will amount to $150 billion by 2016, he said.
Faisal bin Turki said that Saudi Arabia also plans to increase its refinery capacity to 3.5 million barrels per day.
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