KHOBAR: Saudi chemical scientists have said that industry in the Kingdom must conduct deep studies and experiments in the pure sciences to improve the quality of human life and the environment. Members of the Arabian International Chemical Sciences Chapter of the American Chemical Society discussed their concerns at a meeting here recently. Abdullatif A. Al-Othman, Saudi Aramco senior vice president (finance), said there is also great value in the history of chemical sciences because young Saudis can profit from its lessons from the first golden age of Islam and the Arab World. The future is also promising, he said, expressing appreciation for King Abdullah's efforts to invest in education in the Kingdom, which he said is essential to ensure that young people can get good jobs. “With a large population bulge entering the job market, the Kingdom needs more than ever to create meaningful job opportunities,” he said. “With the public sector able to accommodate only a small percentage of the jobs needed, the private sector has to be an engine of the job creation. By 2030, there will be ten million people in the labor force, more than double the number from the most recent official statistics of 2009.” Companies in the region can do a lot more to boost the chemical business, he said. “Despite of the chemical business we already have, and despite Saudi Arabia and the Gulf region's having tremendous comparative advantages in producing oil and gas, which are the precursors of many chemicals, we have not nearly realized our potential,” he said. “The GCC countries carry 35 percent of the world's proven oil reserves and almost a quarter of gas reserves. The GCC currently produces more than 20 percent of the world's crude oil and nearly 10 percent of its gas, but the GCC share of global chemical production is only 1.5 percent. “Compared with either reserves or current output of oil and gas, our performance in manufacturing chemicals has a long way to grow, especially in the areas of specialties, pharmaceuticals, and life-science products. Our nation and our region have a strong foundation for the chemical industry, but there is a tremendous amount of unrealized potential, especially with much more sophisticated, higher-value chemical products.” Within the next two years, Saudi Aramco will begin independently marketing high-value chemicals and within the next decade, it aims to establish itself in the top tier of the global chemical business, he said.
