Doing Business in Saudi Arabia - International Franchise Association
Doing Business in Saudi Arabia - International Franchise Association Doing Business in Saudi Arabia - International Franchise Association
Ma’aden has also finalized plans to set up phosphoric acid plants, which is under construction at Ras As Zawr for the Ma’aden phosphate project it will be ready within 8 months. The plant will produce 4,380 tons of phosphate a day, making it the largest facility of its kind in the world. Resources Return to top Ministry of Petroleum and Mineral Resources www.mopm.gov.sa Deputy Ministry for Mineral Resources www.dmmr.gov.sa/english/main.aspx Saudi Arabian Mining Company — Ma’aden www.maaden.com.sa
Oil & Gas Field Machinery – OGM Overview Return to top The Saudi Arabian Oil Company (Saudi Aramco), the world’s largest oil producer and the state owned company said that in 2009, it completed a multi-year, multiple mega-project programs that included new or expanded oil, gas and petrochemical facilities. Maximum sustainable crude oil production capacity was raised to 12 million barrels per day, and important increases were achieved in gas production and processing capacities. Furthermore, key support facilities such as water injection and distribution networks were also expanded or upgraded. Saudi Aramco’s annual review figures show that recoverable crude oil and condensate reserves stand at 259.9 billion barrels and recoverable gas reserves – associated and non-associated are 263.0 trillion cubic feet. The average crude oil production per day was 8.9 million barrels, and raw gas to gas plants production was 8.3 billion standard cubic feet per day. The average production of natural gas liquids (NGL) per day was 1.0 million barrels. Presently, Saudi Aramco has eleven upstream and downstream investment plans valued at around $58.45 billion to meet increasing world demand for energy. By the year 2020, Saudi Aramco’s daily production capacity of 12 million b/d will become 15 million b/d. Unassociated gas is also a priority for Saudi Aramco because it presently accounts for 44% of the Kingdom’s primary energy consumption. The expansion program will have foreign companies to boost oil refining capacity in Saudi Arabia and in overseas markets such as China. Saudi producing oil fields are having an 8% annual production decline. This means that Saudi Aramco has to introduce about 700,000 b/d in additional capacity every year to make-up for lost production. Another report stated that in an effort to reduce high costs of previously tendered projects, and due to the recent downfall in prices of commodities, building, and construction materials; Saudi Aramco and its joint venture partners have started re-tendering contracts. Re-negotiated prices on some projects have set a precedent. It is reported that Saudi Aramco will be easing conditions for contractors to reduce construction costs. Saudi Aramco’s clients are expecting reductions on project management consultancy contracts. Changes in Saudi Aramco’s commercial terms are centered on cash flow and performance bond requirement of contractors. A news report has mentioned that Saudi Aramco is asking joint venture companies, who are bidding for five engineering contracts to list on the Saudi stock exchange (Tadawul) by the year 2015. Saudi Aramco has requested that contractors bidding for the deals provide a comprehensive business plan for the next six years from 2010-2015. Best Products/Services Return to top Saudi Aramco’s planned expansion projects throughout Saudi Arabia will generate a demand over the next five years in billions of US dollars for high quality oil and gas industry related products, supplies, and services. These include: oil and gas field drilling machinery and equipment; casing, pipes, pipe fitting, and valves; power generation equipment; drilling chemicals; pumps, heat; exchangers, gas compressors, tower coolers; instruments and controls; anti-corrosion systems; laboratory
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Ma’aden has also f<strong>in</strong>alized plans to set up phosphoric acid plants, which is under construction at<br />
Ras As Zawr for the Ma’aden phosphate project it will be ready with<strong>in</strong> 8 months. The plant will<br />
produce 4,380 tons of phosphate a day, mak<strong>in</strong>g it the largest facility of its k<strong>in</strong>d <strong>in</strong> the world.<br />
Resources Return to top<br />
M<strong>in</strong>istry of Petroleum and M<strong>in</strong>eral Resources www.mopm.gov.sa<br />
Deputy M<strong>in</strong>istry for M<strong>in</strong>eral Resources www.dmmr.gov.sa/english/ma<strong>in</strong>.aspx<br />
<strong>Saudi</strong> <strong>Arabia</strong>n M<strong>in</strong><strong>in</strong>g Company — Ma’aden www.maaden.com.sa
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