45% of Saudi energy sector localized: Official

24/10/2024 Argaam
Fuad Mosa, Deputy Minister of Localization, Local Content Risk Management at the Ministry of Energy

Fuad Mosa, Deputy Minister of Localization, Local Content & Risk Management at the Ministry of Energy

Almost 45% of the Saudi energy sector has been localized, with an eye to reach 75% by 2030, said Fuad Mosa, Deputy Minister of Localization, Local Content and Risk Management at the Ministry of Energy.

 

The oil and gas sector is among those with advanced localization rates, ranging between 55-60%. The traditional electricity sector is also a frontrunner, he told Asharq Business.

 

The official also indicated that the localization rate in the petrochemicals and renewable energy sectors is less than 20%.

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