1 MB pdf - Saudi Aramco

TAKING THE INITIATIVEThe challenges present in the worldwide refining industryhave also created a unique set of opportunities forcompanies willing to seize them. We are expandingour worldwide refining capacity through overseas jointand equity ventures. Domestically, we are preparingto build two new export-oriented refineries. Inaddition, we are proceeding with the construction ofour joint-venture PetroRabigh integrated refiningpetrochemicalproject.Worldwide, the petroleum industry is facing a majorhurdle in finding the human resource talent necessaryto tackle the coming challenges. Since the inceptionof Saudi Aramco nearly 75 years ago, we have operatedone of the largest industrial and professional trainingprograms in the industry. Our predominantly Saudiworkforce has guided the company to the prominentposition it holds in the world today. We continue todevelop and deploy at every level the latest trainingand professional development programs across ourentire business, from engineering and exploration tohealth care and IT.The petroleum industry is not only facing challengesregarding supply, infrastructure and human resources,but also a broad array of environmental challenges thatmust be met and overcome. One response is thedevelopment of alternative energy sources. Accordingto IEA forecasts, the share of renewable energy sourcessuch as wind, solar, photovoltaics and sea wave energywill rise to about 8 percent of the world’s primaryenergy mix by 2030, with the remaining 92 percentcoming from non-renewable sources.TOP: WE ARE WORKING TO RAISE OUR MAXIMUM SUSTAINED CRUDE OILPRODUCTION CAPABILITY BY SOME 3 MILLION BPD.ABOVE: IN THE DOWNSTREAM SECTOR, WE ARE DEVELOPING SCENARIOSTO ADD REFINING CAPACITY BOTH AT HOME AND ABROAD.At Saudi Aramco, we believe development of alternativesources of energy is important, and given the projectedgrowth in total demand, contributions from all sourceswill be needed. However, many projections for energysupplies from alternative sources may not be realistic,and if decisions about adding conventional energysupplies are made on these projections, the world couldface a significant gap between demand and supply.10 SAUDI ARAMCO