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Philippine President Tours Saudi Aramco

Source: 5/10/2006, Location: Middle East

As part of her visit to the Kingdom, Philippine President Gloria Arroyo paid a visit to Saudi Aramco's headquarters Wednesday after touring company facilities Tuesday at Shaybah in the Rub' al-Khali. She was scheduled to visit the Saudi Aramco Exhibit, Prosperity Well (Dammam No. 7, the first commercially producing well), OSPAS (the control center for oil supply planning and scheduling) and the Exploration and Petroleum Engineering Center, EXPEC.

The Philippines is an important trading partner with Saudi Arabia, which provides the island nation with 92 percent of its crude-oil needs. In addition to crude-oil exports to the country, Saudi Aramco also plays a downstream role along with its joint-venture partners in Petron, the island nation's largest refining operation. Saudi Aramco became a partner in Petron in 1994.

Arroyo leads a high-level delegation to reinforce business and economic cooperation with the Kingdom. The delegation includes members of the Cabinet and prominent business leaders.

President and CEO Abdallah S. Jum'ah welcomed Arroyo to Shaybah and stressed Saudi Aramco's commitment to providing stable energy supplies to the world and to the Philippines. She toured the central Shaybah GOSP and heard presentations on Shaybah development and expansion.

The Philippines' export of products may be comparatively small, but its most valuable contribution to both Saudi Arabia and Saudi Aramco is its talented expatriate labor force.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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