Saudi Aramco


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AcronymDefinition
Saudi AramcoSaudi Arabian Oil Company
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The Saudi Aramco IKTVA program aims to increase the company's locally sourced goods and services to 70% by 2021 and contribute to the Saudi Vision 2030.
Goldman Sachs had failed to secure an advisory role in the initial move by Saudi Arabian Oil Co - better known as Saudi Aramco - to consider a listing in 2017, an early move which was eventually shelved after Saudi Aramco looked set to not achieve its targeted valuation.
"This center will be a game-changer in ways that many of us would have considered science fiction' at the beginning of our careers," said Saudi Aramco's Vice President of Petroleum Engineering & Development, Mr.
Under this partnership deal, Saudi Aramco will own 55 per cent of the JV, while HHI and Dussur will own 30 and 15 per cent respectively.
The agreement is in line with Saudi Aramco's strategy to accelerate the deployment of non-metallic materials globally.
Commenting on the agreements, Saudi Aramco President and CEO, Amin H.
Nasser said: "Only a few decades ago, Korean companies played a vital role in Saudi Aramco's upstream offshore growth development.
The multi-industry agreements signed by Aramco in Seoul include one between Saudi Aramco, Hyundai Heavy Industries (HHI), and Saudi Arabian Industrial Investments Company (Dussur) to establish a joint venture for an engine manufacturing and after-sales facility in Saudi Arabia.
"The investment supports Saudi Aramco's broader downstream growth strategy, as well as providing long term crude oil options and offtakes as part of our trading business," he added.
The post Saudi Aramco inks JV with US-based cyber defence giant appeared first on TahawulTech.com.
JEDDAH: Saudi Aramco has participated at the second India Energy Forum, hosted by CERAWeek, from Oct.
The joint venture will purchase the gasification assets, power block and the associated utilities from Saudi Aramco. These assets are presently under construction and will be transferred to the joint venture upon successful start-up, currently scheduled for 2019.
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