CEO Today Middle East Awards

www. saudiaramco.com Young Leader’s Advisory Board (YLAB), a program designed to link Saudi Aramco leadership with the voice of its young professionals. At the same time, Nasser is leading Saudi Aramco’s efforts to produce cleaner energy and products through investments in promising technologies such as next-generation fuel-engine interfaces, crude oil-to-chemicals processes, and renewable energy applications; entrepreneurial start-ups focused on cleaner energy solutions; and industry- wide efforts tominimize greenhouse gas emissions, such as the Oil and Gas Climate Initiative (OGCI). He is also an advocate for an efficient, accessible, and world-class supply chain ecosystem that includes small-to-medium-sized enterprises (SMEs) to support Saudi Aramco’s growing procurement needs. Saudi Aramco traces its beginnings to 1933 when a Concession Agreement was signed between Saudi Arabia and the Standard Oil Company of California (SOCAL). A subsidiary company, the California Arabian Standard Oil Company (CASOC), was created to manage the agreement. The work began right away. After surveying the Saudi desert for oil, drilling began in 1935. Following years of effort with little to show for it, in 1937 SOCAL executives sought advice from their chief geologist, Max Steineke. Drawing on years of fieldwork, Steineke told them to keep on drilling. Finally, success In 1938, the foundation of the future prosperity of Saudi Arabia and the success of Saudi Aramco were realized with the commencement of commercial oil production from Dammam No. 7 — the aptly named “Prosperity Well.” From the late 1940s, we grew from strength to strength — hitting record-breaking oil production milestones. Along the way, we were making Saudi Arabia famous for its energy, too. Now named Aramco (the Arabia American Oil Company), our crude oil production hit 500,000 barrels per day in 1949. By the early 2000s, to achieve our vision of becoming the world’s leading integrated energy and chemicals enterprise, we continued to diversify even further. With many ways of delivering value from a barrel of oil — including nonmetallic and crude-to-chemicals products, we moved beyond traditional markets and uses for oil and gas while also investing in new technological solutions to achieve cleaner, more efficient production and consumption of oil, including enhancing the efficiency and sustainability of transportation with new high- performance engines and fuels. Looking forward, we envision transforming billions more barrels of oil and trillions of cubic feet of gas into multiple streams of value for Saudi Aramco, the Kingdom, and its people while — at the same time — continuing to remain a reliable supplier of sustainable energy to the world. 101 CEO TODAY MIDDLE EAST AWARDS 2020 Oi l & Gas