Senior Saudi Officials Chart Technical Plans for Expo 2030

Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)
Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)
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Senior Saudi Officials Chart Technical Plans for Expo 2030

Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)
Observers said Vision 2030 illustrates how countries can support transformation and proactively anticipate structural changes based on a long-term vision. (Asharq Al-Awsat)

No sooner had Saudi Crown Prince Mohammed bin Salman announced in October 2021 Riyadh’s bid to host Expo 2030 that preparations for the nomination began with great momentum and enthusiasm.

All relevant government entities in the country participated and supported the effort, making the bid a central focus in the Kingdom.

Crown Prince Mohammed had emphasized that Expo 2030 would coincide with the fulfillment of Saudi Vision 2030, presenting an exceptional opportunity to showcase the achievements of the vision and share valuable lessons from this transformation journey.

He highlighted the competitive advantages boasted by Riyadh, as it stands as the “largest purchasing power in the Middle East” and possesses outstanding infrastructure.

Additionally, Riyadh is a cornerstone of economic growth in Saudi Arabia due to its immense size and economic influence.

The Royal Commission for Riyadh City, which is responsible for the comprehensive development of the Saudi capital, is also the government entity leading local efforts to host Expo 2030.

The Commission follows an administrative and technical governance approach that allows it to be responsible for all efforts aimed at achieving urban development in Riyadh.

The capital is paving its way to becoming one of the top 10 cities in the world in terms of urban economy, as affirmed by the CEO of the Commission during the presentation of Riyadh’s bid to host Expo 2030 before the General Assembly of the Bureau International des Expositions in Paris on Tuesday.

“We are ready to start working immediately upon our selection, and by February 2028, all preparations in Saudi Arabia will be completed to host Expo 2030,” said Ibrahim Al-Sultan, acting CEO of the Royal Commission for Riyadh City.

“We are confident in our ability to hold an unprecedented world exhibition,” he stressed.

The strategy behind Saudi government agencies for the Expo 2030 project is embodied in the royal decree issued on December 25, 2021, on establishing a steering committee for Expo 2030 to oversee the city’s nomination.

This decree was followed by a directive on March 7, 2022, granting the committee an official status under the name of the “Technical Preparations Committee.”

Informed sources revealed to Asharq Al-Awsat that the Committee is headed by Al-Sultan.

The committee includes several senior government officials in Saudi Arabia, namely Ahmed Al-Khateeb, Minister of Tourism; Mohammed Al-Jadaan, Minister of Finance; Faisal Al-Ibrahim, Minister of Economy and Planning; Mohammed Al-Tuwaijri, former Minister of Economy and Planning and Advisor to the Royal Court; Fahad Toonsi, Advisor to the Royal Court; and Hamed Fayez, Deputy Minister of Culture.

Additionally, it includes Fahad Al-Ruwaily, the Saudi Ambassador to France, and Fahd Hamidaddin, the CEO of the Saudi Tourism Authority.



BP Green Lights 6th Production Hub in Gulf of Mexico

The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. Reuters
The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. Reuters
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BP Green Lights 6th Production Hub in Gulf of Mexico

The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. Reuters
The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase. Reuters

BP said on Tuesday it has given the go-ahead for the sixth operated hub, Kaskida, in the US Gulf of Mexico, with oil production slated to start in 2029.
The new hub features a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day from six wells in the first phase, BP said.
The London-listed company discovered the Kaskida field in 2006 and last year revived plans to develop it.
The company said it plans to leverage its existing platform and subsea equipment designs that can be replicated in future projects to drive cost efficiencies across Kaskida's construction, commissioning and operations.
BP's US Gulf of Mexico output averaged 300,000 barrels of oil and gas per day (bpd) in 2023 and last year the company said it was targeting 400,000 bpd by 2030, Reuters reported.
The British energy major is also considering a 2025 financial greenlight decision for its Tiber offshore oil project in the US Gulf of Mexico.
Kaskida, Tiber, and nearby discoveries combined have an estimated 10 billion barrels of discovered resources in place.
Separately, BP on Tuesday reported a second-quarter profit of $2.76 billion, beating expectations, and increased its dividend.