Saudi Aramco underlined its commitment to India not only as a growing market for oil and gas, but also as a leading source of goods, equipment and expertise by opening a new Aramco Overseas Co. (AOC) office on Jan. 19.

The inauguration was attended by H.E. Faisal Hassan Al-Trad, Saudi Arabia’s Ambassador to India.

The new office will focus on the companies involved in manufacturing and contracting material for Saudi Aramco, creating significant opportunities for Indian businesses.

“We at Saudi Aramco are proud of the close relationship that Saudi Aramco has forged with a wide variety of Indian companies and institutions to date,” said Abdulrahman F. Al-Wuhaib, senior vice president of Operations Services, who inaugurated the office. “But there is a tremendous scope for us to do more, and I am confident that this office will allow us to further strengthen the bonds of cooperation already established and identify new ones.”

Al-Wuhaib highlighted the mutually beneficial century-old partnership between Saudi Arabia and India. He referred to India being one of Saudi Arabia’s most important trading partners and to the contributions of talented Indian nationals living and working in the Kingdom. “Taking into consideration India’s phenomenal economic growth and development, both India and the Kingdom of Saudi Arabia – the world’s largest supplier of energy – are movers and shapers of trends that will determine the world’s future energy outlook.”

“The subcontinent’s proximity to the Arabian Peninsula gives Indian companies the chance to play a major role in Saudi Aramco’s continued capital developments and in-Kingdom landmark projects the enterprise is carrying out on behalf of Saudi Aramco,” Saudi Aramco vice president for Material Supply, Munir M. Al-Rafie added, “by supplying materials and equipment, but also knowledge and technology.”

According to AOC managing director Ahmed M. Alzayyat, the opportunities will depend on the ability of Indian businesses to meet the company’s stringent quality requirements and the ability to offer competitive pricing. “Saudi Aramco maintains the highest standards in construction. This office will allow us to identify and assess manufacturer capability and performance, concentrating on material supply for the company’s strategic commodities and detailing the steps that potential partners need to take to qualify as a supplier.”

Tags: Saudi Aramco