Riyadh, Saudi Arabia; January, 20, 2016 – The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the King of Saudi Arabia today inaugurated The King Abdullah Petroleum Studies and Research Center (KAPSARC) – a non-profit economics and policy research institution dedicated to finding solutions for the most effective and productive use of energy to enable economic and social progress across the globe. KAPSARC undertakes global collaborative research on the economic impacts of energy, its technologies, policies and the environment.
The inauguration ceremony was attended by HRH Mohammad bin Salman bin Abdulaziz Al Saud, Saudi Deputy Crown Prince and Defense Minister; HE Ali bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources, Kingdom of Saudi Arabia and Chairman of the Board of KAPSARC; and, HE Khalid A. Al-Falih, Minister of Health and Chairman of the Board of Saudi Aramco.
HE Ali Al-Naimi said: “Today’s inauguration, under the patronage of HRH King Salman, reflects the Kingdom’s strong support of KAPSARC’s mission to expand global knowledge and understanding of energy to benefit society and the environment. Oil and gas have made and will continue to make a significant contribution to the Kingdom’s success and prosperity. Today, we also need to develop different sources of energy to be able to compete economically and, at the same time, meet the future development needs of the Kingdom, while protecting the environment and finding practical technology-enabled solutions to use energy more efficiently.”
Amin H. Nasser, President and CEO, Saudi Aramco said: “Energy is the main pillar of Saudi Arabia’s economy and the cornerstone of development and prosperity of economies around the world. With the increased complexity of global energy, it is important to continuously expand the boundaries of knowledge through collaboration and research. Saudi Aramco is honored to have helped establish KAPSARC which is a state of the art research center that brings together the brightest people from Saudi Arabia and around the world to tackle energy challenges. The Centre is characterized by its innovative design that integrates the highest standards of environmental conservation. Saudi Aramco will continue to support KAPSARC to achieve its mission and goals.”
Samer AlAshgar, President of KAPSARC said: “KAPSARC is all about improving the welfare of societies through a better understanding of the value that energy provides. We aim to develop frameworks for sustainable, value-added energy production and consumption in Saudi Arabia and around the world. Our mission proudly reflects the late King Abdullah’s vision, as we seek to make Saudi Arabia a leading source of energy insight in global discussions. On behalf of KAPSARC and its global research partners, I would like to take this opportunity to sincerely thank His Majesty King Salman for officially inaugurating our Riyadh facility and the continuing support given to the Center to fulfill its mission.”
In 2015, KAPSARC moved into its Riyadh headquarters, constructed by Saudi Aramco and designed by renowned architect Zaha Hadid. The Center now comprises a diverse team of over 15 nationalities. The Center has established a global footprint of collaborative partnerships, including institutions from China, India, Japan, East Africa, Europe and the Americas.
The King Abdullah Petroleum Studies and Research Center (KAPSARC) is a non-profit energy economics research institution dedicated to finding solutions for the most effective and productive use of energy to enable economic and social progress in this region and across the globe. It undertakes global collaborative research on the economic impacts of energy technology, policy and the environment. It is financed by an endowment.