NORWEGIAN OIL MINISTER IS DUE IN SAUDI ARABIA NEXT WEEK BY TAHA AL-QAIEE RIYADH, JAN 20 (KUNA) -- NORWEGIAN OIL AND ENERGY MINISTER MARIT ARNSTAD ARRIVES HERE NEXT TUESDAY FOR AN OFFICIAL THREE-DAY VISIT TO SAUDI ARABIA AT THE INVITATION OF HER SAUDI COUNTERPART ALI AL-NUAIMI.
NORWEGIAN AMBASSADOR TO SAUDI ARABIA SVEIN ANDREASSEN TOLD KUNA THAT THE OIL MINISTER OF HIS COUNTRY WOULD EXCHANGE VIEWS WITH NUAIMI ON STANCE OF WORLD OIL MARKET AND DIALOGUES BETWEEN CONSUMERS AND PRODUCERS TO GAURANTEE STABILITY OF THE MARKET.
ANDREASSEN ADDED THAT THE SAUDI-NORWEGIAN TALKS WILL COVER EXCHANGES OF INFORMATION ON OIL AND GAS SECTORS IN EACH COUNTRY AND MEANS OF BOOSTING BILATERAL COOPERATION IN THIS RESPECT.
HE INDICATED THAT THE TWO MINISTERS LAST MET IN NORWEGIAN CAPITAL OF OSLO BACK IN DECEMBER 1998 AND HELD TALKS ON SITUATION OF THE WORLD OIL MARKET DURING THE DETERIORATING PERIOD OF PRICES AND HOW TO OVERCOME SUCH CRISIS.
HE SAID THAT NORWAY IS THE SECOND LARGEST OIL EXPORTER WORLDWIDE AFTER SAUDI ARABIA AND IT IS NOT A MEMEBR OF ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES (OPEC).
THE VOLUME OF NORWEGIAN OIL PRODUCTION IS ESTIMATED AT THREE MILLION BARRELS PER DAY (BPD) AND COMMITED AT DECREASE OF 200,000 BPD WITHIN THE FRAMEWORK OF COOPERATION WITH OPEC PRODUCING COUNTRIES IN ACCORDANCE TO MARCH, 1999 AGREEMENT.
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