range vision based on ongoing employment, qualification and training of Saudi nationals in various energy sectors. In the oil and gas sector, for example, we attract annually the crème de la crème of high school graduates and sponsor them at the best schools in-Kingdom and worldwide, to study the specializations required by the Saudi oil industry. They are accorded the opportunity, once they demonstrate their efficiency and acquire the appropriate skills and training, for promotions along their career ladder in both technological and administrative fields. Sixth: Similarly, we are sharpening our focus on the development of new technology and exciting research programs. The oil and gas industry is heavily reliant on technology, whether in terms of exploration, production, refining or distribution. This also applies to the industries associated with oil and gas, such as the petrochemical business. Technology and scientific breakthroughs have contributed-and continue to contribute-to the discovery of more proven oil reserves and facilitate the management of oil reservoirs, resulting in a reduction of our ultimate production costs. When it comes to petrochemical industries, technology contributes to the creation of new substances or otherwise furthers the development of certain products with lower costs and higher efficiency. Perhaps this is one of the most important fields leading to commercial success and the global competitiveness of this industry. Considering the vital importance of modern technology today, the Kingdom seeks to exploit it in all aspects of the petroleum industry. As a result, we have managed to employ the best and most sophisticated technologies in oil reservoir management. Saudi Aramco has also developed a specialized research and development center in Dhahran, which provides the right environment for its scientists and researchers to further enrich its stellar record in the area of innovation. Their inventions contribute to the reduction of the overall cost of production and operations, increasing the Saudi oil industry's profitability and consolidating Saudi Aramco's global leadership position. In the area of petrochemicals, SABIC maintains research and development centers in the USA, Europe, the United Kingdom and India, which enabled it to develop new petrochemicals. Also, other Saudi petrochemical companies are working hard to establish similar research centers. --more
