Saudi Aramco clinches 2010 Energy Company of the Year Award

April 14, 2010

In recognition of its excellence in global energy, Saudi Aramco has been honored as the 2010 “International Energy Company of the Year” by Hart Energy Publishing, one of the world’s largest energy industry publishers. Dawood M. Al-Dawood, Saudi Aramco Vice President for Marketing, Supply and Joint Venture Coordination, recently accepted the award on behalf of the company at an awards luncheon in Phoenix, Arizona. Now in its 23rd year, the annual awards presentation recognizes companies that have demonstrated operational excellence and leadership in the industry.

Hart commended Saudi Aramco for its outstanding efforts, particularly over the past year, to continue its 75-year commitment to increase its oil and natural gas production capacity to supply its customers. It recognized that “Saudi Aramco stands alone as the global leader, currently possessing 4 million barrels per day of spare crude oil production capacity.” It also noted that in mid-2009, the company brought on-stream the giant Khurais Field, with the capacity to produce 1.2 million bpd.

In his acceptance speech, Al-Dawood gave credit to Saudi Aramco’s employees throughout the company and all over the world. “They are aware of their global responsibilities and are among the finest talent in the world,” he said. Saudi Aramco will continue to invest in production capacity to meet growing global demand, which is expected to double over the next four decades, Al-Dawood said. “Saudi Aramco has demonstrated its commitment by investing more than tens of billions of dollars over the past five years in projects that have brought the company’s sustainable crude oil production capacity to 12 million bpd,” he said.

Al-Dawood also emphasized the company’s environmental stewardship. “Saudi Aramco’s environmental policies were established more than 50 years ago as a testament to the company’s strategic objective of minimizing the hydrocarbon footprint on our areas of operations,” he said. “Saudi Aramco is committed to future generations and will continue ground-breaking research for cleaner, more efficient engines and fuels.”