IDB called to sponsor students in oil, gas fields

THE Islamic Development Bank (IDB) can play a major role in developing national oil and gas companies among its member countries by extending assistance in education, says Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.

THE Islamic Development Bank (IDB) can play a major role in developing national oil and gas companies among its member countries by extending assistance in education, says Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah. Most Islamic countries are blessed with huge reserves of oil and gas, which should enable IDB to sponsor students keen to pursue this discipline, he said. "The move could lead to the emergence of national oil and gas companies from among the IDB countries," he said at the 34th Board of Governors meeting of IDB in Ashgabat, Turkmenistan on June 3rd, 2009. The text of his speech was released in Kuala Lumpur. Since IDB is headquartered in Saudi Arabia, qualified students can be sent to the King Fahd University of Petroleum and Minerals, which would enable them to find jobs at international oil and gas companies. "This is possible, as reflected by Malaysia's success story in creating Petroliam Nasional Bhd (Petronas)." With an initial injection of US$300 million (RM1.04 billion), Petronas today has accumulated investment of US$160 billion (RM556.8 billion), and owns the tallest twin tower building in the world and an international university campus. Petronas has sponsored more than 100 Turkmenistan students who are now pursuing their first degree at Petronas University in Malaysia and employed more than 200 Turkmens who are now working hand-in-hand with Malaysian expatriates in this country. Link: http://www.cibafi.org/NewsCenter/English/Details.aspx?Id=3668&Cat=0