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
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