Aramco - Company Introduction

1387 Words Apr 4th, 2011 6 Pages
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,
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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
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