Saudi Arabian Oil Company
P.O. Box 5000
Dhahran 31311
Saudi Arabia
Tel: +966-13 872-0115
Saudi Aramco traces its roots to 1933 when a deal was struck between Saudi Arabia and the Standard Oil Company of California, which later became Chevron, to survey and drill for oil, creating a new firm to do so.
Between 1973 and 1980, Saudi Arabia bought the whole company.
Saudi Aramco is the state-owned oil company of the Kingdom of Saudi Arabia and a fully integrated, global petroleum and chemicals enterprise.
Over the past 80 years the company have become a world leader in hydrocarbons exploration, production, refining, distribution and marketing.
Headquartered in Dhahran, Saudi Arabia, with offices and operations throughout the Kingdom, Saudi Aramco employ more than 65,000 workers worldwide.
In December 2019, Saudi Aramco completed the world’s largest initial public offering. This followed a $12 billion inaugural international bond issuance in April 2019.
Production and reserves
In 2020, Aramco’s average hydrocarbon production was 12.4 million barrels per day of oil equivalent, including 9.2 million barrels per day (mmbpd) of crude oil.
Saudi Aramco’s total 2019 hydrocarbon reserves under the Concession Agreement were 258.6 billion barrels of oil equivalent (boe), compared to 256.9 billion boe in 2018.
KEYFACT Energy