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Volume 59, Number 3May/June 2008

In This Issue

Saudi Aramco by the Numbers

1932 ‘Abd al-‘Aziz Al Sa‘ud proclaims the Kingdom of Saudi Arabia.
Average Daily Production
2007 World Cruide Oil Production
2007 Sources of US Cruide Oil Imports
1933 Concession agreement signed between Saudi government and Standard Oil of California (SOCAL). Prospecting begins. SOCAL assigns concession to California Arabian Standard Oil Co. (CASOC).
1935 First test well is drilled.
1936 Texaco buys 50% interest in CASOC’s concession.
1938 Dammam Well No. 7 discovers commercial quantities of oil. Barge exports begin to Bahrain.
1939 First tanker-load of oil is exported aboard D.G. Scofield.
1942 World War ii puts end to field mapping.
1944 CASOC renamed Arabian American Oil Co. (Aramco).
1945 First unit of Ras Tanura refinery begins production.
1948 Standard Oil of New Jersey and Socony-Vacuum (both now ExxonMobil) buy interest in Aramco; company headquarters moved from San Francisco to New York.
1950 Trans-Arabian Pipeline completed from Eastern Province oil fields to Mediterranean coast.
1951 Safaniya field, world’s largest offshore oil field, discovered.
1952 Aramco headquarters moved from New York to Dhahran.
1953 Company begins building government schools.
1957 Several smaller fields found to be part of Ghawar field, which is confirmed as world’s largest onshore field.
1959 Two Saudis elected to the board of directors.
1961 Exports of liquefied petroleum gas (LPG) begin.
1964 First company-built school for girls opens.
1966 Sea Island offshore crude-oil loading terminal begins operations.
1973 Saudi government buys 25% participation interest in Aramco.
1974 Saudi government increases its participation interest to 60%.
1975 Master Gas System launched to capture and put to use previously flared gas.
1980 Saudi government acquires 100% participation interest in Aramco.
1981 East–West ngl Pipeline commissioned.
1982 Dammam No. 7 shut in after producing 32 million barrels of crude.
1983 Ali I. Naimi elected first Saudi president.
1984 First four supertankers acquired; Aramco takes over operation of East–West Crude Oil Pipeline.
1988 Saudi Arabian Oil Company (Saudi Aramco) established.
1989 Saudi Aramco and Texaco launch Star Enterprise joint venture in us.
1991 Saudi Aramco buys 35% of SsangYong Oil Refining Co. in Korea.
1994 Company buys 40% interest in refiner Petron Corp. in Philippines.
1995 Last of a fleet of 15 new VLCC tankers placed in service by Vela International Marine, Ltd.
1998 Joint venture with Texaco and Shell establishes Motiva Enterprises in us.
2003 Geophysical data storage reaches 1200 terabytes.
2004 Qatif–Abu Safah Producing Plants inaugurated, processing 800,000 barrels per day of crude oil and 370 million cubic feet of gas.
2005 Joint-venture agreement for in-kingdom refining and petrochemical complex signed with Sumitomo Chemical Co. of Japan.
2006 Company assigned to build King Abdullah University of Science and Technology. Vela now owns 21 VLCC’s.
2007 Joint ventures signed with ExxonMobil, Sinopec and government of Fujian Province (China) for refining, petrochemicals production and marketing.

This article appeared on pages 2-5 of the May/June 2008 print edition of Saudi Aramco World.

Check the Public Affairs Digital Image Archive for May/June 2008 images.