Under this regulation, a non-profit center is established called (Petroleum Studies and Research Center), which shall have an independent legal personality, and shall hereinafter be referred to as "the Center".

The headquarters of the center is in the city of Riyadh, and it has the right to establish branches within the Kingdom. A decision from the Council of Ministers may allow for the relocation of its headquarters to another place within the Kingdom.

The purposes of the center are: to conduct studies and carry out scientific and applied research related to the petroleum industry in order to support and maintain the interests of the Kingdom. This includes, but is not limited to, the following:

1- Conducting scientific and applied research that helps develop and support the petroleum industry, including methods and techniques for exploration, drilling, development, production, and refining, as well as conducting studies related to the advancement of that industry and helping to preserve the environment, and establishing the necessary research laboratories for that purpose.

2- Monitoring the latest developments and innovations in the field of the petroleum industry, as well as those related to technology in the fields of alternative energy, and studying their impact on petroleum and gas as valuable resources and fuels for the industry.

3- Keeping track of global interests in the field of the environment and studying their impact on the petroleum industry and market.

4- Studying the conditions of the global petroleum industry and monitoring the policies of consuming and producing countries, as well as the strategic trends of global oil companies.

5- Developing and training human resources, and enhancing research capabilities in the field of the petroleum industry.

6- Collaborating with King Abdulaziz City for Science and Technology, Saudi universities, and scientific and technical research centers both within the Kingdom and abroad, to engage in joint activities and exchange information and expertise, thereby opening avenues for scientific cooperation in the field of petroleum between the Kingdom and the world.

7- Providing information and research results to relevant entities from government agencies and the private sector, and contributing to improving performance in the petroleum industry in the Kingdom and its development.

The center is overseen by a Board of Trustees chaired by the Minister of Petroleum and Mineral Resources, with membership consisting of a year of specialists with scientific skills, excellence, and experience in the field of petroleum and scientific research. Their appointment is made by an Order from the Prime Minister based on the proposal of the Minister of Petroleum and Mineral Resources for a period of three years, renewable, and the Order specifies their remuneration.

1- The Council of Trustees shall meet at least twice a year at the invitation of its President, and the President must call the Council if requested by at least half of the members. The invitation must include an agenda. The validity of the meeting requires the presence of the majority of the members, including the President. Decisions are made by a majority of the votes of those present, and in the event of a tie, the side that the President of the Council votes with shall prevail. The Council may invite individuals whose information and expertise are deemed beneficial to attend its sessions, without granting them the right to vote. The deliberations and decisions of the Council shall be recorded in minutes signed by the President of the Council and the attending members. 

2- The Council may not issue decisions by presenting them to the members individually except in cases of necessity, in which case the written approval of all members of the Council on the decisions is required. These decisions shall be presented to the Council at the first subsequent meeting to be recorded in the minutes of the meeting.

The Board of Trustees is the supreme authority overseeing the affairs of the center, its administration, and the management of its matters, as well as setting the general policy that it follows, in accordance with the center's regulations and bylaws. It has all the necessary powers to achieve its objectives, particularly the following:

1 - Establishing the general policy of the center and the work plan that the center follows to achieve its objectives and monitoring the implementation of that.

2 - Approving the financial and administrative regulations of the center.

3 - Approving the internal regulations of the center and the policies and regulations related to its activities.

4 - Supervising and reviewing the center's technical, administrative, and financial operations.

5 - Approving the draft budget of the center, its final accounts, the auditor's report, and the annual report.

6 - Forming committees and delegating any powers it deems appropriate to accomplish the matters presented to it.

7 - Accepting gifts, donations, grants, bequests, and endowments.

8 - Delegating the officials responsible for managing the center to enter into agreements and contracts of all kinds within the limits of the rules set by the Board of Trustees.

Members of the Board of Trustees shall not disclose any of the secrets of the center that they have agreed upon due to their membership in the Board.

The center shall have a General Director with the necessary competence and experience appointed by the Board of Trustees. He is the executive responsible for the center, reporting to the Chairman of the Board of Trustees. His responsibilities are concentrated within the limits set by the center's organization and its regulations, as well as what is decided by the Board of Trustees. The General Director has the following competencies:

1 - Preparing for the meetings of the Board of Trustees.

2 - Following up on the implementation of decisions issued by the Board of Trustees.

3 - Preparing the draft budget of the center and the draft final accounts; in preparation for presenting them to the Board of Trustees.

4 - Supervising the employees in the center according to the powers granted to him and what is determined by the positions.

5 - Issuing disbursement orders specific to the center in accordance with the approved annual budget and the financial regulations of the center.

6 - Providing periodic reports to the Board of Trustees about the center's activities, achievements, and initiatives.

7 - Proposing the center's plans and programs and supervising their implementation after obtaining the approval of the Board of Trustees.

8 - Proposing the administrative, financial, and technical regulations that the center operates under, suggesting amendments to them, and submitting them to the Board of Trustees.

The General Director of the center may delegate some of the competencies stipulated in this article to other officials within the center's administration.

The center shall have an advisory committee composed of experts and scholars who are not full-time employees, collaborating with the Director General. The formation of this committee shall be issued by the Board of Trustees upon the recommendation of the Director General. The decision shall specify the operational mechanism.

The center is represented in its communications with other entities and before the judiciary by the Chairman of the Board of Trustees or by a delegate authorized by him.