King Abdullah bin Abdulaziz Al Saud of Saudi Arabia has called for the formation of the new board of directors of Saudi Aramco for the next three years effective from August 25 and is as follows:
1- Minister of Petroleum and Mineral Resources Eng. Ali bin Ibrahim Al-Naimi, Chairman.
2- Dr. Ibrahim bin Abdulaziz Al-Assaf, Member.
3- Dr. Mohammed bin Ibrahim Al-Suwaiyel, Member.
4- Dr. Abdulrahman bin Abdulaziz Al-Tuwaijri, Member.
5- Dr. Khaled bin Salih Al-Sultan, Member.
6- President of Saudi Aramco, Khalid bin Abdulaziz Al-Falih, Member.
7- Abdulaziz bin Fahd Al-Khayyal, Member.
8- Salim bin Saeed Al Aydh, Member.
9- Amin bin Hassan Al-Nasser, Member.
10- Sir Mark Moody-Stuart, Member.
11- Peter L. Woicke, Member.
12- David J. O’Reilly, Member.
Current Saudi Oil Minister Ali Al-Naimi remains chairman of the board whilst Aramco vice president for exploration and production, Amin Al-Nasser and ex-Chevron chairman and CEO, David J. O’Reilly join as new members.
Saudi Arabia which holds the largest oil reserves in the world had just over 260 billion barrels of oil and condensate reserves as of 2009. It is also home to the fourth largest gas reserves in the world at 275.2 trillion cubic feet.
