Economist / Saudi Aramco President confirms that the company’s relationship with the private sector is systematic and more comprehensive

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Dammam, 23 Dhu al-Qi’dah 1441 AH, corresponding to 14 July 2020 AD, SPA
The Eastern Chamber, in cooperation with Saudi Aramco, organized a remote meeting yesterday, during which the President of Saudi Aramco and its chief executive officer, Eng. Amin Hassan Al-Nasser, hosted a meeting on the effects of the Corona pandemic, opportunities and challenges in the energy sector, the role of the contracting, manufacturing, supply and procurement sector in addition to issues related to the private sector.
Eng. Al-Nasser asserted, during the meeting moderated by the Chairman of the Council of the Eastern Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khaldi, that the development of Saudi Aramco’s relationship with the private sector came from the company’s beginnings, and became systematic and more comprehensive and clearly focused on the program “Iqtafa”, stressing that the success of this program was a reason In the success of Saudi Aramco – in partnership with the private sector – in localizing businesses, creating job opportunities, and developing small and medium enterprises.
He added that the Ektifaa program proved its usefulness during the pandemic period, which caused the global supply chains to be affected, indicating that Aramco has increased the incentive for developing small and medium companies in a five-fold satisfaction equation, and this incentive will add a desire among large companies to increase the opportunities available in their supply chains and qualify Small businesses to participate, and through this will support the “Chamber Chamber” initiative sufficiency program.
Al-Nasser affirmed that Saudi Aramco has always been keen on its stance stemming from its responsibilities that balance trade and strategic goals with national responsibilities, adding that “we are optimistic that the worst in this pandemic has become behind us, and that Aramco has suffered in the crisis great challenges, but, thank God, our readiness was high.” To deal with the pandemic, because dealing with epidemics is part of the company’s risk management program, and epidemics were one of the sub-risks classified as non-industrial accidents, but after the pandemic it was reclassified to one of the main risks.
Engineer Al Nasser said: “The digital transformations have a growing concern in shaping the current and future business environment and achieving more innovations and opportunities, pointing out that Saudi Aramco has established a business department led by a deputy chief executive officer to identify opportunities for digital transformation at Aramco, and accelerate the pace of its implementation by increasing The profitability of the company, and enhances reliability and operational efficiency, indicating at the same time that the pandemic demonstrated the feasibility of investing in digital transformations, and that this requires that the capabilities of suppliers, contractors and commercial partners be of a high degree of immunity, so meeting cyber security requirements has become a condition in qualifying and sustaining the private sector with Aramco.
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Economist / Saudi Aramco President confirms that the company’s relationship with the private sector is systematic and more comprehensive / first addition
The President of Saudi Aramco and its chief executive officer reviewed the pivotal projects, including the King Salman Energy City “Spark” that is being built east of Abqaiq Governorate, and the King Salman International Complex for Marine Industries and Services in Ras Al-Khair, noting that Aramco’s efforts in these projects aim to enable an industrial renaissance that contributes to Building a local content system, and establishing the Kingdom’s position as a strategic center for industries in the Middle East region, which is in line with the Kingdom’s 2030 vision.
Regarding the challenge of climate change and its impact on the future of the oil industry, Al-Nasser pointed out that Aramco puts the climate challenge at the top of its priorities as it is the lowest globally among other companies in the level of emissions, according to studies by independent parties and that the company seeks to lead in reducing climate change emissions through the development and application Technologies and innovations.
Eng. Al-Nasser also listed several areas of technical solutions that the company focuses on, including working through Aramco’s research and development centers in Detroit and Paris with car manufacturers to develop the new generation of high-efficiency car engines and low emissions and develop future fuels that are less emission-level It also includes developing and applying carbon separation and storage techniques as well as converting harmful emissions into commercially viable materials.
Eng. Al-Nasser indicated that digital transformations, the techniques of the fourth industrial revolution and artificial intelligence will help to produce more environmentally clean oil, pointing at the same time to Saudi Aramco’s interest in the concept of transformation of the circular economy through which carbon dioxide is reduced, recycled and removed, confirming that Oil will continue to play a big role in the global energy mix, despite the rise of technologies such as electric cars.
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Economist / Saudi Aramco President confirms that the company’s relationship with the private sector is systematic and more comprehensive / second addition
In turn, the Vice President of Technical Services at Saudi Aramco, Ahmed Al-Saadi, said: “The success of the contractors is a success for Saudi Aramco, indicating that the sufficiency program came as a result of joint work for many years.
Al-Saadi added that pivotal projects such as King Salman Energy City and King Salman International Complex for Marine Industries and Services come to establish the infrastructure for many industries in the region, where King Salman Energy City will embrace heavy and light industries to support the energy industry, adding that the company is in the process of establishing a complex for digital industries and industries Non-metallic, which would attract large companies to the region and open the way for medium and small institutions to serve and support these industries, adding that the King Salman complex is one of the largest complexes in the region and all investors are international companies that have a long tradition in marine industries and related services.
He stated that the International Maritime Industries Company had started operating with a number of projects with investors, indicating that the company acquired the first tanker from a Bahri company and it is among several tankers to be built in the complex, confirming that the ship and drilling industry attracts many small and medium support industries and creates horizons There are opportunities for manufacturers in the region to have a role in stimulating industry in the Kingdom.
Al-Saadi stressed that Saudi Aramco was quick to take a package of immediate measures and measures aimed at limiting the effects of the emerging corona virus pandemic in several areas, including economic facilities, rescheduling of some projects, restructuring of some discounts on contractors, and in stages that reach a full settlement with the main contractors due to Reducing pressure on the subcontractors, noting the application of a system for monitoring and enforcing the payments with the main contractors to ensure that the payments reach the subcontractors, and some of the contract terms were modified to allow the use of bank guarantees instead of financial guarantees as well as reducing bank guarantees according to the percentage of project implementation.
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Economist / Saudi Aramco President confirms that the company’s relationship with the private sector is systematic and more comprehensive / third and final addition
Al-Saadi revealed that the pre-qualification process for contractors and suppliers is an essential measure to ensure the provision of a sufficient and appropriate group of contractors and suppliers who enjoy expertise and outstanding performance, in order to meet the company’s needs of purchases, and Aramco’s work is usually characterized by a large amount of sensitivity and complexity, and this requires the importance of a rehabilitation process A comprehensive pre-contractor for the purpose of ensuring business performance with high quality, reliability and safety. The qualification process includes a set of important elements for contractors and suppliers such as expertise, human resources, financial position assessment, technical capacity assessment, and commercial evaluation.
For his part, Mohammed Al-Shammari, Vice President for Procurement and Supply Chain Management in Saudi Aramco, pointed out that Saudi Aramco has provided unified contact centers and digital platforms at a high level that contribute to strengthening communication between the private sector and the company, especially in exceptional cases.
Al-Shammari said: “Saudi Aramco launched an initiative aimed at achieving continuous improvement in the procedures for selecting contractors and suppliers and prequalification, by taking advantage of the digital transformation, and providing a single electronic portal through the SABE Arabia system to achieve pre-qualification of contractors for all services, Implementing improvements to some of the services that will come into full implementation in the year 2021AD, which will consequently reduce the pre-qualification time.
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