Q: Prince Mohammed, some economist writers have concern about Aramco as it is property of the Kingdom and should not offer IPO, what is your opinion? A: I think that this thought tends to socialist thought, which everything must be under property of government, even the bakery. In the main documents in which Aramco was established during the reign of King Abdulaziz was preparing to listed in the market at that time. Today, we have a company with a huge value, and we can keep this company in Saudi Arabia, and keep its influence in Saudi Arabia, and make it grow in Saudi Arabia, while taking its benefits by supporting other sectors that are not in Saudi Arabia. The sums that we will earn from Aramco will help us capture many opportunities as we mentioned in beginning of discussing meeting. If Aramco does not offered IPO, we are going to take 50 years or 40 years to develop the mining sector. we will take 40 years to develop local content. we will take long years to develop logistics services, like we did 40 years ago. When we offer part of Aramco's stock IPO, and have a cash to create new and strong sectors in Saudi Arabia, it will develop the economy, create jobs, improve government and PIF revenue and so on, while at the same time Aramco in Saudi Arabia. Q : How much percentage for IPO? A : We have two main factors to determine the percentage of IPO. Q : What are we going to sell, the service or wells or what? A : We sell the value of the company, wells are owned by state, only the company has the right to use these wells which is in the past and in present and in the current time and has not changed anything. The size of the quota to be sold is linked to two factors, one is the "demand"; is there demand or not, the second is what we have on pay line as investment inside and outside of Saudi Arabia. The "cash" is what we need, and if we don't have a sector to invests in Saudi Arabia or absorbs this investment so why we sell a stake from Aramco?, but if we have a sector need investment so we sell a stake immediately. These two factors will determine how much we sell from Aramco, and undoubtedly will not be far away from 5% too much. Q: When offering Aramco IPO project will start? A: 2018. Q: Do you now work on papers and permits? A: True. Q: If Aramco offered IPO, who will determine Aramco's production ceiling? A: Saudi government will determine the production's limit. Saudi government is in favor of increasing production at the price that suits the company. A part of The government's revenues is from the oil tax (50%) on the sold or produced oil, as well as the taxes it receives from Aramco. The government's interest is to increase Aramco revenues. So, the government will not take a decision contrary to its interests and the interests of Aramco production rate. Q: Prince Mohammed, the subject of production and the economic vision and mentality in the market, do they will freed from the political decision? A: Production rate is not a political decision. Production is an economic decision. It was not a political decision in the past. What is the economic interest in determining the appropriate production rate? This is governed by supply and demand and coordination with the OPEC countries and non OPEC countries to avoid collapse or confusion in oil prices. Q: What are the programs launched last Sunday, investment program to stimulate 100 companies to be regional or international companies, what are the companies targeted to raise their level? A: I cannot call companies names now. There are companies are part of the stock market and companies outside the stock market. We acquire more than 100 companies have the opportunity to turn from a local company to a regional leading company, and also acquire companies that have the opportunity to be transferred from local companies to international pioneered companies. We have a group of companies that can achieve this transformation and this is huge impact will be reflected on the Saudi economy. Simple procedures, facilities and agreements with other countries need to facilitate their sales and facilitate their spread. --More 01:56 LOCAL TIME 22:56 GMT www.spa.gov.sa/w391652