Saudi Arabia holds opportunities for China beyond crude oil energy

Chinese companies with experience in seawater desalination should pay attention to investment opportunities in Saudi Arabia, Zhang said.

Al-Othman said Saudi Arabia can attract Chinese investors with its advantages such as many well-educated people, its legal system and unlimited business opportunities.

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"The privileged location of the two countries is beneficial for cooperation," he said.

Saudi Aramco, the country's national oil company, is involved in almost every aspect of the upstream industry.

Ahmed A Al Subaey, the company's executive director of marketing, supply and joint-venture coordination, said the company is trying to expand its downstream business.

Many opportunities exist for Chinese investors - including small and medium-sized enterprises - to participate in the oil and gas sector, he said.

According to CNPC Economics and Technology Research Institute, Saudi Aramco plans to raise its crude refining capacity to 8 million barrels a day in 10 years, surpassing ExxonMobil Corp, the world's largest oil and gas giant.

Zhang said Saudi Arabia has proposed possible cooperation on oil terminal projects with China in the past.

"China would be willing to cooperate with Saudi Arabia to establish oil terminals since there is no doubt Asia will become the most important area for Middle East crude oil transshipment in the future," Zhang said.

Chinese President Xi Jinping said on Thursday the two countries should keep energy cooperation as a pillar and expand high-tech cooperation in areas like aviation, space and new energy to forge a closer partnership.

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