Norsk Hydro would attend presentations that Saudi Arabia will make to international oil companies about the projects it is going to offer them. The Saudi Oil Minister confirmed during his visit to Norway that Saudi Arabia is re-launching a multi-billion dollar development of its gas industry after failing to reach agreement on three huge integrated projects.
The three projects, two led by ExxonMobil and one led by Shell, are now being split into upstream gas development and downstream industries as stand-alone ventures. "The combination of upstream and downstream projects has made it difficult...to attract foreign companies, so now they are focusing more on upstream projects," Steinum said.
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