Aramco – Company Introduction

Company Introduction

The roots of Saudi Aramco go back nearly seven decades. In 1933, shortly after Saudi Arabia was unified, the Government granted a concession to Standard Oil of California who recognized the potential of oil as a valuable export commodity and a source of revenue to begin building our nation. Standard Oil of California, the parent company of Chevron, was joined later by several other major oil companies and the venture became known as Aramco – the Arabian American Oil Company.

In 1938, after five long years of exploration, oil was discovered in commercial volume when a well named Dammam Number 7, near today’s headquarters in Dhahran, began to flow — and ushered in a new era for Saudi Arabia. Things moved quickly, and in 1939 King ‘Abd al-‘Aziz visited Ras Tanura to inaugurate the first shipload of Saudi crude oil ever exported. The young Kingdom was now officially launched into the international petroleum industry

Corporate Mission:

Saudi Aramco’s mission as an integrated international company is to engage in all activities related to the hydrocarbon industry, on a commercial basis and for the purpose of profit.

Corporate Objective:

Maximize profitability

The company is continuously striving to maximize profitability by focusing on achieving maximum returns from Company assets. Maximizing profitability entails both revenue enhancement and cost reduction. The Company can achieve revenue enhancement through the capture of new business opportunities related to its core oil and gas business, enhancement of efficiency and effectiveness in conducting business and optimization of the business portfolio.

The Company can lower the total cost of production by prudent management of resources, capturing synergies and leveraging existing investments in people, processes and technology. The overall return on assets will be maximized by reducing cost, enhancing facilities utilization and identifying equipment inefficiencies to increase capacity, availability and yield. Remain a reliable supplier of oil and gas

This objective focuses on the Company’s ability to meet global and national commitments for both Oil and Gas. This objective can be achieved through enhancements in reserves and production capabilities, operational reliability of facilities, and improvements in logistics. The Company will intensify its efforts to grow the Kingdom’s hydrocarbon reserves and continually upgrade its operational and logistical capabilities.

At the same time, the Company recognizes that reliability and maintainability are increasingly important elements in its day-to-day business. In order to remain a reliable supplier of Oil and Gas and achieve world class operational excellence, efforts will be made to systematically measure, analyze and improve drivers of key operational metrics. Efficiently meet the kingdom’s energy demand

Continued economic prosperity and social welfare in the Kingdom will largely depend on the availability of energy in the most economic and cost effective manner possible. This objective covers a wide array of oil and gas exploration, reserves development, facility expansions, improved domestic logistics and promotion of efficient use of energy. Contribute to the development of the kingdom’s economy

This objective focuses on the Company’s position as an enabler for local economic growth, both in terms of employment and in terms of generating new businesses and ideas. The Company is committed to further developing the oil and gas based local industries which in turn could help spawn and grow a wide range of other industries leading to economic diversification. The Company will also promote the establishment of new local businesses in the manufacturing and service sectors. Maximize profitability

The company is continuously striving to maximize profitability by focusing on achieving maximum returns from Company assets. Maximizing profitability entails both revenue enhancement and cost reduction. The Company can achieve revenue enhancement through the capture of new business opportunities related to its core oil and gas business, enhancement of efficiency and effectiveness in conducting business and optimization of the business portfolio.

The Company can lower the total cost of production by prudent management of resources, capturing synergies and leveraging existing investments in people, processes and technology. The overall return on assets will be maximized by reducing cost, enhancing facilities utilization and identifying equipment inefficiencies to increase capacity, availability and yield.

Remain a reliable supplier of oil and gasThis objective focuses on the Company’s ability to meet global and national commitments for both Oil and Gas. This objective can be achieved through enhancements in reserves and production capabilities, operational reliability of facilities, and improvements in logistics. The Company will intensify its efforts to grow the Kingdom’s hydrocarbon reserves and continually upgrade its operational and logistical capabilities.

At the same time, the Company recognizes that reliability and maintainability are increasingly important elements in its day-to-day business. In order to remain a reliable supplier of Oil and Gas and achieve world class operational excellence, efforts will be made to systematically measure, analyze and improve drivers of key operational metrics. Efficiently meet the kingdom’s energy demand

Continued economic prosperity and social welfare in the Kingdom will largely depend on the availability of energy in the most economic and cost effective manner possible. This objective covers a wide array of oil and gas exploration, reserves development, facility expansions, improved domestic logistics and promotion of efficient use of energy.

Enhance research and technologyThis objective is envisioned to deliver the innovations and breakthroughs that will drive growth of Saudi Aramco’s core businesses, generate solutions that enhance efficiency and profitability of the Company, contributes to cost reduction and provides technical leadership in select technology areas.

It should ultimately lead to maximum value realization and conservation of the Kingdom’s valuable hydrocarbon resources. Intensify the focus on safety and protection of the environment This objective focuses on the Company’s continued efforts to keep safety and environmental concerns at the forefront of its employee’s minds. Saudi Aramco’s environmental priorities include assuring its facilities compliance with environmental regulations/standards and increasing environmental awareness in the Company and the community.

Saudi Armco recognizes and embraces safety as a key goal of the organization and its employees in order to be successful. An organizational culture that supports safety is essential for the prevention of injuries, illness, loss of life and properties. The safety culture fits within the context of Saudi Aramco’s organizational values, behaviors and practices. The Company recognizes that programmatic approaches to safety issues need organizational and individual alignment. Prepare the work force for the future

One of the most important factors of Saudi Aramco’s success is its ability to attract and retain highly skilled and motivated workforce to meet its current and future work requirements. The Company needs to carefully rethink its future labor needs and what it is doing today to attract and develop top talent and ensure leadership for the future in light of changing demographics, an aging workforce, global sourcing for new workforce members, changing business models and increasing complexity of operations.

Aramco in brief:ExcellenceAramco pursues excellence in everything we doHuman ResourcesAramco encourages continuous learning and strives to develop its people to their highest potential. Fairness and IntegrityAramco strives for fairness and adhere to the highest ethical standards. TeamworkAramco and its people support each other and work together to achieve their business objectives successfully. SafetyAramco strives to maintain the highest levels of safety, security, health and environmental standards. ResponsivenessAramco is responsive to the expectations of the government and its customers. StewardshipAramco is proud of its company and are committed to preserving its assets and resources. TrustAramco places authority where responsibility lies.AccountabilityAramco is accountable for all its actions.CitizenshipAramco support s its communities and serve as a role model for others

Company profile

Saudi Aramco is one of the biggest oil companies in the world. It covers the hole of Saudi Arabia. Aramco is an acronym for Arabia American Company Oil .Aramco which started in 1933 with the help of Chevron,USA By the time it became aseparate company. Aramco had the biggest oil fields in the world .It also has the biggest see oil filed in the world.

In 2008 Saudi Aramco celebrates the 75th anniversary of the May 29, 1933, signing of the oil concession between the Kingdom of Saudi Arabia and Standard Oil of California.King Abdullah visited Dhahran to celebrate . Saudi Aramco exports , refined oil and gas to various other countries. It has created a Wholly-owned subsidiary company, Vela International Marine Limited , to handle shipping to North America, Europe and Asia