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Category Archive: Saudi Aramco News

New Partnership for Traffic Safety Efforts

23 July 2014 | comments (0) | Saudi Aramco News | by

Saudi Aramco News

Saudi Aramco is partnering with Abdul Latif Jameel Community Initiatives for a traffic safety program in the Western region.

The Memorandum of Understanding (MOU) was recently signed by Khalid A. Al-Falih, Saudi Aramco president and CEO, and Mohammed Abdul Latif Jameel, chairman of the Abdul Latif Jameel Group.

“We chose to partner with Abdul Latif Jameel Community Initiatives because it is a highly acclaimed social foundation that provides unique social responsibility programs around the Kingdom,” said Al-Falih.

The high rate of traffic accidents is one of the biggest challenges the Kingdom faces. It is also one that Saudi Aramco hopes to amend through its social responsibility programs. This includes the Traffic Safety Signature Program launched by the company five years ago to reduce damage and fatalities caused by accidents.

“The success that Saudi Aramco was able to achieve through its initiative for traffic safety and the support that it received from the Ministry of the Interior motivated us to seek partnerships that can help in promoting safe driving,” said Al-Falih.

The partnership will help establish sustainable programs in the Western Region’s schools to promote safe driving practices through awareness campaigns, academic programs that will act as a test-run for all levels and a traffic safety committee to represent stakeholders in the Western Region.

“The rising number of fatalities on the roads necessitates that companies fulfill their national and social duty in dedicating all resources to educate the community on road safety and protect them from accidents,” said Jameel.

Saudi Aramco will let the social foundation tap into its resources on traffic safety education and awareness. The companies will also collaborate in the creation of short videos and safety messages to raise awareness on traffic safety in the community.

The initiative reflects the company’s commitment to sharing its expertise in the area of community services with the private sector. By doing so corporate social responsibility programs are leveraged across the Kingdom for the benefit of society at large.

Thousands Respond to Call for iThra Volunteers

16 July 2014 | comments (0) | Saudi Aramco News | by

Saudi Aramco News

Only four hours lafter an invitation was sent, 2,800 employees had applied to volunteer at iThra Knowledge, Saudi Aramco’s wildly popular outreach program.

The program — designed and produced by the King Abdulaziz Center for World Culture — will offer young male and female volunteers the opportunity to acquire knowledge and responsibility, as well as work, administrative and soft skills, in a safe and structured environment.

With more than half a million visitors expected at the program’s first-ever indoor show in the Riyadh International Convention and Exhibition Center, volunteers will have to be well prepared.

Five-hundred volunteers — about 300 males and 200 females — will be selected from more than 3,000 final submissions, with teams of four interviewers completing the whittling down process through personal interviews.

“We received a very good and high quality of volunteers for Riyadh,” said Anas Al Juraifani. “We are inspired by so many passionate people who want to give to society.”

“I think because the program has already been to Jiddah and al-Hasa this year, a lot of people know about it, and they are excited,” he said. “A lot of people come because Saudi Aramco is well-known for handling mega-projects and its well-organized events. And for a good number of people, this is the first time to volunteer. Many said they heard about it through social media.”

Interviewers look at educational background, skill sets such as public speaking or scientific knowledge, as well as experience and passion.

“We have had lots of very good applicants: students, professionals, experts in many professions,” said Al Juraifani, who noted many people devote their evenings to the four-week-long program after working full days at their regular jobs.

By carefully screening and matching volunteers, program organizers can ensure volunteers are on the right track and don’t lose interest. “We want to develop them and make sure they do work that suits them,” said Al Juraifani. “And we want to learn from them; it’s a knowledge transfer.”

As with the previous two events in 2014, the stringent selection process has paid off in terms of retention, ensuring most volunteers commit to their minimum five day-a-week requirement — and bring 80,000 vital volunteer hours to the Riyadh event team.

Volunteers provide more than 50 percent of operational capacity.

The volunteer experience is open to Saudi Aramco employees, their dependents and members of the public who are 18 years or older.

A Volunteer Training Program offers three days of training, including safety and health education, followed by a medical checkup, on-the-job training — including crisis planning — and simulation exercises designed to encourage innovation in dealing with challenges.

iExcel Gifted Engages Youth

4 July 2014 | comments (0) | Saudi Aramco News | by

Saudi Aramco News

Following launch of the iExcel Gifted program, Imam Saud Al-Kabeer Secondary School in Dana receives visit from Saudi Aramco’s president and CEO Khalid A. Al-Falih.

Al-Falih was joined by Mohammed Y. Al-Qahtani, acting senior vice president for Operations and Business Services, and Jamil F. Dandany, director of the Educational Partnerships Department. Al-Falih commended the participating students and shared his vision of a future led by the capable hands of the youth, praising their high academic caliber and their ability to process information quickly.

Designed by Training and Development in collaboration with Johns Hopkins University and the King Abdulaziz and His Companions Foundation for Giftedness and Creativity (Mawhiba), the program’s main goal is to engage students during free time with work that widens their horizons and provides them with academic and life skills.

The “Society Time” class offered in English combines all of these goals by allowing students to apply the information gained from their physics class in ways that benefit society.

Al-Falih visited other classes offered by the iExcel Gifted program, starting with an electrical engineering class where students demonstrated their knowledge in wiring electrical circuits and how these skills can be applied across different fields. Students at the “Principles of Engineering” class also showcased their talents in assembling prototypes for their final project and were especially proud of the greenhouses they built that are designed to preserve energy and maximize value.

Al-Falih engaged the students in a conversation about the effectiveness of the program and was pleased to hear of their satisfaction with the initiative. The students have long felt the need for a way to implement what they learn in theory practically and were extremely happy to get the chance to sharpen their knowledge in science-based subjects through creative projects and sophisticated discourse.

“I am proud of the students who will lead the Kingdom to a bright future through their contributions to companies, plants and government,” Al-Falih said. “Saudi Aramco sponsors the development of young talent across the Kingdom through its various initiatives such as iThra Youth and iDiscover to aid them in innovating and excelling through their achievements.”

AOC Agrees to Acquire Hanjin Group’s Stake in S-Oil

2 July 2014 | comments (0) | Saudi Aramco News | by

Aramco Overseas Company B.V. (“AOC”) has agreed in principle to acquire the Hanjin Group’s (the “Group”) entire stake in S-OIL Corporation (“S-OIL”) comprising approximately 32 million shares representing 28.4% of the issued and outstanding common shares of S-OIL, for a total amount of ₩ 1,982,982,332,000 (or approximately US $1.95 billion at current exchange rate). This share purchase will increase AOC’s ownership interest in S-OIL from 34.99% to 63.4%. The transaction is contingent on the execution of formal transaction agreements and regulatory approvals

In commenting on the transaction, AOC’s Managing Director Fahad AbdulKareem emphasized AOC’s unwavering commitment to maintaining the sound financial performance of S-OIL and to enhancing the value of the business and its competitive market position.

“This transaction underscores Saudi Aramco’s confidence in the Korean economy and its strategy to enhance its presence in the growing Asian markets and AOC’s commitment to S-OIL growth.” said Khalid A. Al-Falih, Saudi Aramco President and Chief Executive Officer, while expressing his gratitude to Hanjin Group “for a mutually rewarding partnership with Aramco Overseas Company in S-Oil over the past 7 years,” and communicating Saudi Aramco’s wishes for the Group’s future success.

Aramco Overseas Company B.V. (AOC) is a subsidiary of the Saudi Arabian Oil Company (Saudi Aramco). It provides support services to Saudi Aramco and through its investments and joint ventures forms an integral part of the global Saudi Aramco oil, gas and chemicals enterprise. It has been a major shareholder of S-OIL since 1991.

Saudi Aramco is a fully integrated, global energy and chemicals enterprise and a world leader in exploration and production, refining and distribution, and the world’s top exporter of crude oil and natural gas liquids.

Moving Young People With Launch of iCompete

26 June 2014 | comments (0) | Saudi Aramco News | by

Saudi Aramco News

Following recent openings in Riyadh and al-Jouf, Saudi Aramco launches its Cultural and Sports summer program “iCompete” in the Eastern Province.

The program has been well received by the Kingdom’s youth as witnessed by huge turnouts the past two years as one of Saudi Aramco’s most important initiatives in the area of sports. The iCompete program targets students between the ages of 7 and 14 in an effort to develop and improve their soccer, volleyball, table tennis, swimming and tae kwon do skills.

This summer, thousands will participate in the program representing Ettifaq, Qadisiyah, Nahdha, Khaleej, Fateh, Jubail and Batin from the Eastern Province, as well as Al-Shola from Kharj, Al-Faisaly from al-Majma’ah, and Al-Oroba from al-Jouf. The program will continue until the end of August.

Saudi Aramco is seeking to provide a variety of sports programs that combine education with entertainment in a sports style that attracts young people and stimulates the spirit of fair challenge and competition during the summer vacation.

Speaking on the launch of the program, Nasser A. Al-Nafisee, acting executive director of Corporate Affairs, said the program strives to promote the values of competition in a healthy and safe environment, as well as creativity and responsibility among young people. He added the program would support young talents in all sports and cultural areas.

iCompete offers a variety of high-quality sports and educational activities and events, which are expected to have a positive impact on the participants and their future lives, Al-Nafisee added.In addition, the program features a number of activities with the designed purpose of heightening participants’ awareness about environmental preservation, fire protection, promotion of safety values at work and at home, as well as their adoption of healthy habits (i.e., fire prevention, safety and health care) and habits that limit energy consumption. The iCompete program focuses on the self-development of its participants and their further growth in competencies, personal characteristics and skills to establish a culture of responsibility and discipline.

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