Saudi Arabian Oil Company (Saudi Aramco), the fully integrated, global petroleum and chemicals enterprise, announced the official opening of Aramco Asia in Beijing, China, deepening its presence in one of the world’s fastest growing regions, a move that underscores the strategic importance of Asia to the company.
Aramco Asia, which is a wholly-owned affiliate of Saudi Aramco and headquartered in Beijing, will serve as the business and cultural exchange portal between Saudi Aramco and China. The new head office in Beijing has two supporting branches in Shanghai and Xiamen.
“Our new Asia office here in Beijing will be a hub for facilitating our joint activities in general and in particular investment and other business opportunities arising from the capital projects in Saudi Arabia and Asia. The Kingdom is ‘open for business’ for Chinese and other Asian companies, as there are abundant opportunities across many sectors,” Abdulrahman F. Al-Wuhaib, Saudi Aramco Senior Vice President, Downstream, said at the Aramco Asia inauguration ceremony on Monday in Beijing.
The new entity will provide services of crude oil and chemicals marketing, joint venture coordination, procurement, inspection, research and development, project management, human resources development and communications in the region.
“Aramco Asia brings together our business operations in this fast-growing region under one entity and be unified in carrying out Saudi Aramco’s vision and strategy for Asia. Aramco Asia will play an important role and be part of the building blocks that will contribute to Saudi Aramco’s corporate transformation to become a global leader in energy and chemicals by 2020,” said Dawood M. Dawood, vice president, Marketing, Supply and Joint Venture Coordination (MSJVC), Saudi Aramco, who led Saudi Aramco teams in implementing the company’s strategy in the establishment of Aramco Asia.
More than 300 distinguished guests, including Chinese government officials, foreign embassies’ ambassadors, top executives of energy companies, veteran energy experts and researchers from Chinese academia and institutions, as well as Saudi Aramco and Aramco Asia’s long-term partners, attended the grand inauguration on Monday.
“Aramco Asia will offer a full range of services and resources for the handling and management of robust business between Saudi Aramco and our partners and companies in China, and the wider Asia region,” said Mr. Sulaiman M. Ababtain, president, Aramco Asia, at the inauguration ceremony.
At present, Aramco Asia manages the interest of two joint ventures in China: Fujian Refining and Petrochemical Company, or FRPC, and Sinopec Senmei Petroleum Company Ltd. Both are located in southeastern Fujian province.
In addition, Aramco Asia is preparing to sell chemical products from FRPC to tap into China’s chemical market, aligned with parent Saudi Aramco’s goal to become a global leader in refining and chemicals by 2020.