Saudi Aramco recently hosted chairmen and CEOs from Saudi Arabia’s banking sector in a summit aimed at strengthening ties with the Kingdom’s leading financial institutions.
Top executives from all local banks were represented at a daylong summit at Saudi Aramco’s headquarters in Dhahran and later, at the company’s Shaybah facilities.
The 2014 Bankers’ Summit was designed to give bankers an opportunity to gain an inside view of the ongoing transformation of Saudi Aramco into a global energy company.
The group was welcomed by then-senior vice president of Finance Mohammad A. Al-Ali, who thanked the gathering for their work with Saudi Aramco and for sharing their time.
“To take the time,” he said, “shows the importance of the relationship. The purpose, firstly, is to connect because in any business the support and cooperation of the banking industry is a critical factor. This is a chance to say thank you.”
Al-Ali spoke of Saudi Aramco’s “broad-based” Accelerated Transformation Program (ATP) and the company’s journey to becoming a fully integrated energy enterprise with new diversified growth being developed from an expanding portfolio including petrochemicals and renewables.
“Moving forward, Saudi Aramco is embarking on a massive investment plan that requires critical collaboration between Saudi Aramco and local banks to achieve our aspiration. No doubt this transformation we are pursuing will add immense value to the national economy and will strengthen Saudi Aramco’s global footprint. We look forward to working with all of you in the coming months and years as we begin executing our transformation strategy,” Al-Ali said.
At Dhahran’s Plaza Conference Center, Feda Al Tuwaijri gave an overview of the company. Zuhair Abussaud outlined to the bankers Saudi Aramco’s business process outsourcing and an overview of the company’s Finance organization was detailed by Abdullah Nahdi.
During the Plaza meetings, Al-Ali introduced Abdullah Al Saadan, Saudi Aramco’s new senior vice president of Finance, Development and Strategy. Al Saadan spoke to the bankers as well with some brief comments.
The bank executives were then taken on a tour of Saudi Aramco’s state-of-the-art OSPAS facility.
OSPAS is entrusted with managing the Kingdom’s hydrocarbon supply chain and delivering quality products in a timely, safe and in environmentally responsible manner to local and international customers. The bankers group was received there by OSPAS management.
The Upstream Professional Development Center was the next stop, with UPDC administrator Salam Salamy giving the guests an overview of the programs before a visit to the virtual rock outcrop hosted by David Kersey and Ali Al Qawaeen. The tour also included the Drilling Simulation Room and the CAVE, where Ron Monsen briefed the visitors.
After the morning session, the Summit participants were flown to Shaybah. There, they observed some of the field operations and continued their discussion while watching the famous sunset of the Rub’ al-Khali, followed by dinner.
It was a successful day for Saudi Aramco and for the bank executives. It was an event that many asked to see repeated with a desire to carry on a dialog about the business and how the Kingdom’s institutions can continue to help Saudi Arabia grow and prosper in the years to come.
