Energy

The hydrocarbons industry is a key contributor to the economy, accounting for around 22% of GDP in 2012 as well as some 75% of government revenues. Efforts to boost production are expected to see output reach 100,000 barrels per day by 2020. The government has pledged to invest $15bn in the hydrocarbons sector over the next 30 years, with energy diversification and a growing focus on solar and wind power set to lessen the kingdom’s dependence on natural gas. Despite current energy production outpacing peak demand, the government is working to encourage reduced power and water consumption through a public awareness campaign, while increasing power production capacity. This chapter includes interviews with Adel Khalil Al Moayyed, Chairman, BAPCO; and Abdul Hussain bin Ali Mirza, Minister of State for Electricity and Water Affairs.