Saudi Aramco expands presence in India
Saudi Aramco marked another significant milestone in its international portfolio expansion, with the opening of Aramco Asia India’s new office in New Delhi over the weekend.
The office was inaugurated by Saudi Aramco President and CEO, Amin H. Nasser, at an event attended by India’s Minister of Petroleum and Natural Gas, H.E. Shri Dharmendra Pradhan, and Saudi Ambassador to India, H.E. Dr. Saud Alsati.
“For Saudi Aramco and the Kingdom of Saudi Arabia, India represents much more than a valued customer or even a major supplier of services and materials. Today, India is an investment priority,” said Nasser in his welcoming remarks during the inauguration.
“There’s great potential to take our partnership to a higher level beyond the supply of crude oil, refined products and LPG to new areas of R&D, engineering and technology,” said Pradhan. India imports 81% of its oil requirements.
Nasser emphasised that ”India has the necessary human capital and expertise that can help us grow from strength to strength” and that new business opportunities await to be unlocked.
The New Delhi office will assume major roles in attracting more Indian manufacturers and investors to participate in the company’s In-Kingdom Total Value Addition or IKTVA program.
It will also strive towards qualifying more vendors in commodities which Saudi Aramco requires for its projects and operations as well as strengthening R&D collaboration with Indian expertise and continuing the momentum of supply for the country’s oil and related products demand.
