MercoPress. South Atlantic News Agency

Saudi Arabia promises to boost oil production.

The world's main oil producer and exporter Saudi Arabia announced a four years plan to increase daily output from nine million barrels per day to twelve million.

The Saudis also made it a point to highlight that the oil industry is well protected against any terrorist threat.

"Our objective is to increase production to 12,5 million bpd in the next four years", said Ali La Nueimi, Saudi Oil Minister. However the minister said that the current level of production, estimated in nine million bpd will remain "until we receive new instructions".

Mr. Al Al-Nueimi also insisted that all necessary provisions to protect the Saudi oil industry and installations from terrorist threats "have been taken".

"Our oil interests have not suffered terrorist attacks, in spite of the ongoing incitation by leaders to their followers. All our installations are under strict security measures which makes it difficult, almost impossible for the terrorists to attack", underlined the minister.

Last December Saudi born Osama Bin Laden leader of the international terrorist organization Al Qaida threatened with attacks on Iraq's oil industry and in the rest of the Persian Gulf, calling on his fighters to "perpetrate the attacks".

Last week insurgents destroyed a section of Iraq's oil pipeline in the north of the country, in Kirkuk, shutting down one of the industry's main production areas which is connected to Turkey in the Mediterranean and also supplies Baghdad.