These words from Khalid A. Al-Falih, president and CEO of Saudi Aramco, welcome readers to Saudi Aramco’s 2012 Annual Review.
They also capture the theme of the publication and its companion publication, the 2012 Corporate Citizenship Report.
The year 2012 was historic for Saudi Aramco as the company produced more oil and more gas than ever before.
During the year, the company also put the finishing touches on the Manifa Project, its most challenging oil production program ever, as well as making significant progress on a number of other important projects, such as Karan, the company’s first offshore gas production facility, and Wasit, one of the largest gas plants Saudi Aramco has ever built.
Details on these projects and more are captured in the 2012 Annual Review.
The 2012 Corporate Citizenship Report shows Saudi Aramco’s progress during the year toward its commitments on the four pillars of its corporate social responsibility strategy: economy, community, knowledge and environment.
For example, more than $26 billion in material and services procurement was awarded to in-Kingdom businesses during the year; major efforts to make the Kingdom’s highways safer continued; programs developed by staff at the King Abdulaziz Center for World Culture had significant impact even though the facility will not open until 2015; and the company made great strides in reducing its energy consumption.
Yet, in looking at all the great achievements of 2012, the significance was not so much about 2012, but about what those accomplishments mean for the future.
In 2012, Saudi Aramco began its first foray into unconventional gas, proving that substantial shale and tight gas deposits exist in Saudi Arabia.
Progress was made on Sadara, the joint venture with The Dow Chemical Company, which will be one of the primary components of the company’s entry into chemicals production.
Major contract packages were awarded for the Jazan Refinery and Terminal Project, which will be the driving force for industrialization of the southwest corner of Saudi Arabia.
These accomplishments and more made 2012 remarkable, and they also set the stage for even greater contributions to future prosperity for the company, the Kingdom and elsewhere. Hence the theme: Shaping Tomorrow.
“As we carry on relentlessly exploring, producing and delivering in our drive to achieve excellence,” HE Ali I. Al-Naimi noted in the Chairman’s Message in the 2012 Annual Review, “we are transforming into a company that will bring even greater benefit to the Kingdom by increasing the value and range of the products we produce and by positioning ourselves to succeed well into the future. Displaying strong leadership will shape and contribute to the Kingdom’s economy as we continue to strive toward shaping a prosperous tomorrow through our hard work and dedication.”