Khali area hold out the tremendous promise of the discovery of additional gas volumes which will increase both the Kingdom's reserves and its production. Over the next ten years, we will be attempting to bring in a minimum of 100 trillion standard cubic feet of non-associated gas. Besides the Kingdom's ambitious plans to increase its oil and gas reserve volumes, we are also working to minimize dependence on exporting raw materials. This initiative is coupled with the effort to sustain the Saudi economy's growth rate at a level similar to or higher than the global economic growth rate, in order to keep pace with population growth and the future expectations and aspirations of our society. This entrusts government organizations with a great responsibility to maintain the favorable conditions of life for the Saudi citizen and maintain and consolidate the Kingdom's position in the global economy, not only as a raw material-exporting country, but also as a state with a multifaceted economy. Of course, it must assume this position in the context of a global economy which is characterized by constant changes and cut-throat competition, and we must recognize that it will be difficult for any one who falls behind the march to catch up with the leaders of the pack. In both its international and domestic aspects, Saudi petroleum policy aspires to attain two key objectives. The first is worldwide, as in our effort to stabilize the global oil market, and the second is local, as in diversification of income sources, the avoidance of relying on a single commodity, and establishing grassroots industries and economic activities that are associated with the energy sector, but are at the same time semi-independent from it. --more
